With inflation heading downward, the debate is now shifting to what happens after this fight is over— and the risks of getting it wrong are high, both economically and politically.
U.S. and European investors' holdings of assets controlled by Chinese companies but issued offshore are worth nearly three times as much as direct investments in companies registered in China.
U.S. inflation data suggests price pressures have peaked, giving financial markets hope that the Federal Reserve's interest-rate hikes will soon pause.
Analysts predict that slowing population growth will present "a number of economic challenges" over the next 50 years, such as paying for rising healthcare costs for aging populations.