What Are the Costs of a System Like China?

MMT says that there are two ways of creating financing governments. Printing it, borrowing, and the effect on inflation is identical. China does not create money in an inflationary way. It creates money simply to stabilize employment - which has not caused any more inflation than here. If we don't write down the debts, then the debt service is going to cause a deflation of prices. So if you recognize that there may be some aspects of a Chinese-style economy as desirable or at least one where the government has a little bit less influence over the financial industry,. do you see the US becoming more like the Chinese system? I'd be curious to get your views because of global competition because of