I was looking for an interview I read a few days ago with the Chinese equivalent of the "Fed" chairman. If I find it again, I'll post it. What I found interesting in the article was that he stated that China could not go into a hyperinflationary cycle because they were not printing money.

I'm not sure I believe him -to peg with the USD they have to print money or something equivalent. But that's beside the point. What I found interesting is that an official at the top of the Chinese financial pyramid was talking from a Monetarist viewpoint. He was defining inflation as an increase in the amount of money being supplied, as opposed to a rise in CPI.