What Peter Schiff doesn't know is that, commies spent most of the US dollars Chinese people earned in the form of:

 

1. As the deposit for printing RMB,

2. USG bonds,

3. equity for foreign investment.

 

Yes, commies have their own spending problem, too, on a even more ridiculous scale then Obama admin due to total lack of opposition and monitoring mechanism. Most of savings of Chinese workers have been squandered by commies already. It's only a matter of time before they will reach the end of the rope. Statistics from China is generally untrustworthy.

 

I put my bet on India.

The Indian government is left wing spend spend too, in fact one of the currencies that hasn't appreciated a lot against USD is the Indian rupee, but Taiwan, Australia, Japan, and New Zealand are tops in asia-pac.

Indian government has some serious deficit, but they aren't systematically robbing people's saving like commies do. If you look at those spending, you see that a lot was spent on infrastructure, which India needs urgently. You'll see the return from investment of infrastructure in five to ten years.