Printing money is stealing buying power from the currency holders through counterfeit.

The argument Kensian economics uses to justify it, is that the stolen money should be used to build public infrastructure, that will provide more public goods than what was stolen.

The West was able to do it in the 1940s, to build ammunition, tanks, and ships and win WWII. And in the 1950 to build the interstates. But since then, we have seen diminishing returns.

Today. Western governments continues to print money, but can no longer use it as efficiently. It is wasted on incompetence, overregulations and corruption.

China still knows how to print money and build infrastructure efficiency.

The West does not.