Fiat? Yep.
High likelihood that they have used loose internal currency issuance to encourage growth while excluding outsiders from interacting with their currency system? Yep.
I have personally been to China and heard that this is the case? Yep.
This is the same as the US debt problems? Not even close, there are similarities, but the systems themselves are very different is scale, scope, function, and in their relationships to each other.
NakedEmpire covers some of this idea in a posting.
LINK TO POST
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