Why does the United States want quantitative easing and China want quantitative easing? The United States started quantitative easing, and China should avoid currency appreciation, so it should also be quantitative easing. Quantitative easing in the United States has led to the depreciation of the US dollar, and China is under pressure to appreciate the US dollar. If the money supply is not expanded, it will inevitably make the RMB appreciate against the US dollar. China is a big exporter. If it appreciates against the US dollar, it will cause the export industry to shrink, and in serious cases, it will lead to the bankruptcy of export enterprises, which will have an irreversible impact on China's exports. Moreover, if the RMB appreciates against the US dollar, China's foreign exchange reserves, which account for nearly one third of the world's total foreign exchange reserves, will be lost in vain, and the wealth accumulated by the people of China for decades will also be wasted. However, if the currency is issued in full accordance with the standards of quantitative easing in the United States, it will be seriously affected by the inflation generated by QE in the United States. Therefore, Yang Ma made a compromise and overpaid some money!