China seems to me to be doing the bubble-inflating monetary imperialism that Europe did before WWI: lending lots of money to other countries on the condition that they use it to buy your products.

That's a sure way to extend an unsustainable situation, while making it bigger. It doesn't usually lead to anything good on the long term, but I don't think they have been doing so much of it to break the world.

... and who knows? maybe this time it leads to democratization and growth all over the world, and they get somebody to export to. I don't think that's likely, but I can be wrong.