The more debt issued, the more inflation in the system. Inflation is when the debt is weighed against the resource base. When the resource base stays the same or decreases, while debt increases, this causes inflation.
The resource base includes goods, but only critical goods for survival. Food, water, oil, and precious metals are at the top of the list. Food and water are having a rough time because of man and mother nature. Man because we are using GMOs and this is destroyer the DNA of the crops, and killing honey bees. Nature because the world is always in flux, and with man hurting his chances, nature is leaving humanity in the dust in many parts of the world.
Oil production, and precious metals (for the most part) have peaked production. This is important because oil is what runs the economy, and precious metals back the debt (officially or not).
China is betting that they can afford higher precious metal and oil prices, which is why they continue to bailout the fiat ponzi. The are calling the West's bluff. They are confident with the oil they receive from Russia and the Middle East, and they are confident with their gold production.
This may be smart, or it may be as dumb as the West asking for more and more bailouts. Either way, the cake is baked: there is a lot of inflation in the pipeline.