This is because President Xi has seen this old textbook trick too many times. We had also stated this in our earlier post in March 2021. Being the largest economy in the world, the US can impose unilaterally monetary policies that derive economic benefits at the expense of others. Many emerging economies will suffer greatly this time if the US hikes its rates too aggressively in 2022.
https://sg-stock.blogspot.com/2021/03/the-time-for-asia-to-rise-up-has-come.html
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