The impact of the US interest rate hike on China's economy will not be great. Most likely, the small-scale adjustment of interest rates will not harm the economy, but will play a very good role in curbing the overheating of investment. It will accelerate the further decline in the growth rate of China's fixed assets investment and curb the low-level duplication of some obviously overheated industries and regions. In addition, it is also beneficial to keep the inflation rate low.

Of course, interest rate is a double-edged sword. To a certain extent, it will curb consumption, and it will also have a certain negative impact on stock market and bond investment in the short term, reducing investment in this area. At the same time, it will also bring great challenges to China's financial system.

The U.S. interest rate hike represents the U.S. government's intention to encourage people to save more and consume less, and to curb overheating in the market. China's capital account has not been fully opened, so it will not affect China's financial banks in a short time. But in the long run, it will affect the quantity of goods and services exported by China by influencing demand (the decrease of domestic demand in the United States makes the quantity of goods exported by China to the United States not be purchased). The world economic crisis depends on the amount of interest rate increase. If it is too large, the special role of the US dollar as a world currency will inevitably affect the world economy.