Giving dollars to China is precisely what we are already doing. China has bazillions of $ lying in their soveriegn wealth funds and foriegn currency reserves.

But some people have argued that the most important thing we give to china is not dollar notes, but a market for their goods.

So maybe the answer is to just go out and spend money on consumer goods.

Or, to put it another way, that the global economy is a self-organizing system which solves these problems automatically as long as the rule of law and enforcement of contracts is upheld.

Perhaps western countries should consider re-colonizing Africa in order to get those institutions working stably and then let the economy do the rest?