All we here is how much China “owns” the United States because of the debt they have purchased. Let us look at the facts:
- China owns about 11% of all US Foreign Debt. Although they own the largest individual share, they do not “own”the US
- The US is China’s number one customer. Our failure would have a negative on their economy.
- China has a major trade advantage in goods purchased by the US. We purchase about $344 billion dollars from China last year. They purchased about $82 Billion in goods from the US last year. That leaves China with a trade surplus of $252 Billion. Our economic failure would wreck their economy if they lost that business.
Although China is an important creditor for the US, it would not be in their economic or political interest for the US to fail economically. Accordingly, we should treat China with respect but not bow down and fear them. Maybe Washington should read these acts and understand.
2012 is coming!!!!!