Where does the central bank exchange foreign currency?
It is the RMB printed by the central bank. According to your example, the United States bought goods worth 100 from China, while China lost goods worth 100; The central bank "added fuel to the fire", bought dollars and released the corresponding RMB. At this time, there are few commodities in the domestic market and more RMB, and the conditions for inflation are sufficient. Enlarge your example by 30 billion times, and this is the current situation in China.