So, China has been able to provide huge fiscal stimulus while the US has not. Partly because the Chinese Government has a huge banking industry which it controls.
The sad truth is that in spite of our more developed system of governance, the rule of law, and a much more developed economy, the US government has not been all that responsive to the most urgent needs of our national economy in a time of its greatest challenge since the great depression. In fact it is less responsive than the government of a middle-income country run by a Communist party. That ought to give American pundits and social scientists something to think about.
Yes, I suppose we ought to think about that.
Is the ability to provide a large fiscal stimulus worth all the rest of it?
OK, next question?