In today's edition of Le Monde there is an article about the increasing quantity of money in the world, and the problems or benefits that this might yield. In the introduction to the article the authors state that, in contrast to now, the world had managed to collaborate (or at least talk to each other to avoid doing one-sided moves) after the 2008 crisis. In particular, the article says:
C’était l’époque, aussi, où la planète avait réussi à coopérer et était même parvenue à prendre des décisions communes – lutte contre les paradis fiscaux, relance budgétaire concertée, coordination des banques centrales, choix de la Chine de financer les Etats-Unis, etc.
It was also the time when the world had succeeded in cooperating and even managed to take joint decisions - the fight against tax havens, concerted fiscal stimulus, central bank coordination, China's choice to finance the United States, etc.
Did China really finance the US? What do the authors mean with this, and was this measure in any way significant?