Unfortunately for the Chinese, their balloon didn't make it in time for the Macy's Thanksgiving Day Parade...however, it's made a much bigger splash than the rest of this year's balloons.Now I'm no balloon expert, but it seems to me that a "spy balloon" is a little outdated for 2023; especially when an open-source satellite could have given them the same intel.
The effect of this balloon is two-fold. First, it's shown the world that the disconnect within the Chinese government has reached an all-time high. Second, diplomatic relations between the US and China have grown colder than ever and will likely be strained even further.