How did the PRC not cause inflation during the financial crisis of 2008-2009 when the government pumped 600 billion USD into the economy to build and develop infrastructure, housing and other projects rapidly?

Question

How did the PRC not cause inflation during the financial crisis of 2008-2009 when the government pumped 600 billion USD into the economy to build and develop infrastructure, housing and other projects rapidly?

In: 6

Answer 1

Extreme capital controls. They basically stopped anyone from exchanging Yuan for foreign currency in significant amounts.

These same capital controls are also why the Yuan will never be a reserve currency.