Honestly, from a non US perspective, I dont buy it... (puts on tin hat!). In terms of macro economics, this is short term noise not long term signal... So, for debate; ... US gov debt is circa 130%GDP. China circa 77%. ... US current account at -3.7%. China +2.2%. ... US population circa 334 million. China circa 1.4 billion. ... US economy is still far larger, at 25.4 trillion vs 17.9 trillion USD, so China has a long way to go, but it is undeniably catching up over the long term. In the short term, China is currently dealing with it's credit bubble and the rest of us will be forced eventually to do the same. ... And before anyone accuses me of being anti US, I'm in Europe which is in a far worse state! (Data from Trading Economics https://tradingeconomics.com/)