re: China is currently not an economic threat and is imploding internally.

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He means the invisible tax of inflation

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I seriously doubt that

I'm guessing he's talking something more align with culture/character.

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that devalues your purchasing power

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With a healthy economy, you'll make more money than inflation will devalue your money.

Inflation and deflation are both necessary, and desired within the right situation.

The issue with China is that they do not want, nor need, deflation. This is not only putting them in a potential deflationary spiral (like Japan), but also exposing their lack of a real economy when the curtain is revealed.

China's entire economic system under the CCP the past 30 years has been grown (which require inflation. A lot of it). The US can deal with either inflation or deflation over time. China cannot.