With the latest $1.9 trillion COVID-19 relief bill signed into law, the US government spending has topped $5 trillion since the health crisis began last year. One big question: How would the nation pay for it? Will massive US stimulus trigger inflation overseas?

"In fact, the impact on the world is that rich Americans will buy and poor people in the world will work harder to satisfy the Americans",said Da Hsuan Feng, chief advisor to China Silk Road iValley Research Institute.

Da Hsuan Feng also mentioned that the emerging markets will suffer long-term internal injuries which would be difficult to heal.