Doesn't China have more dollars than they know what to do with? If deflation happens it's literally the ending to my DnD novel where the magic weave experiences a financial collapse so an elven pantheon comes in to buy everything for pennies on the dollar.

It should be infinitely more preferable for the numbers to keep diluting. Deflation would be like all the stupid parts of MMT (no signal of what people want and value) with all of the stupid parts of a hard currency (twiddle your thumbs while they drink your milkshake).

You must give people more money and then keep raising prices or you lose. You must never let socialism take hold or you lose. You must monopolize middle eastern oil or you lose. China cannot ignore you or you lose.

And then Mamdani walks around ignoring Israeli events, balancing the budget, freezing rent, and giving people cheap things to do during the summer+him endorsing congresspeople is effectual? Fucking grim lmao