China disputes US officials' accusations of "flooding" global markets, stressing that its economy is based on domestic consumption and sustainable development.

The Xinhua article disputes claims by US officials accusing China of a trade imbalance, arguing that these accusations are recycled and ignore China's economic progress. Domestic consumption has become the main driver of economic growth and the trade structure has improved. China is not responsible for the US trade deficit, which is rather due to the US economic model of high consumption and low savings. The article also points out that the US national debt has increased significantly, and the financialization of the economy has led to a steady deindustrialization. The conclusion is that accusations of imbalance are more political narrative than economic reality.