If you check the numbers again China is the biggest foreign debt holder. The debt we hold is basically just a circle jerk.
If you check the numbers again China is the biggest foreign debt holder. The debt we hold is basically just a circle jerk.
China holds ~$1.1T. Additionally, China's share has been decreasing the last few years while its dollar amount has a net increase.
So while China may be the largest single foreign debt holder (when grouped by country), we are not "borrowing mostly from China".
Didn't China sell a couple of trillion of our debt to Japan not too long ago?
No.
Another trend to take note of is balance of trade. While we have had a trade deficit since the 1960's, it didn't start its sharp decline until Clinton.
By the sharp decline in the trade deficit, you mean it (the imbalance) got more pronounced, more severe, right? Not that the deficit lessened and we trended toward equilibrium?
This whole trade deficit thing just chaps my ass. We could be an economic powerhouse that would even make our former stature look like a wimp. The whole world economy's foundation is energy. And we have so much of it it makes your head swim when it hits you. The same applies to a lot of other countries but nobody else is in a better position to extract it than we are. We have the technical expertise and the manufacturing base to do it far faster than anyone else. The sheer magnitude of what we have has only come to light in the last few years. And we have an administration who views it as if it were an evil burden. For that alone we should run him out on a rail. Fixing our economy is easy. Not doing so is simply unforgivable.
its a National Security thing. All resources are finite.
When the rest of the world runs out of natural resources, we'll still have ours, along with the labour base and facilities to produce.
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