US stimulus may cause inflation around the globe

The steroid-driven US fiscal policy since the peak of the COVID-19 pandemic has caused a glut of US dollars in the financial markets, according to an opinion piece published by China Daily on May 17.

The problem is not just restricted to US domestic inflation. A significantly weakened dollar has also resulted in commodity prices rising sharply around the world, wrote John Gong, a professor at the University of International Business and Economics.