Sunday, November 22, 2009

China and the US Dollar

China has been and continues to be “asked” to help pay for the debt incurred by the United States. Since China and United States do so much business, China has given a lot of their money to the United States only to see later that the US government, with it’s current policies, is headed towards inflation. Thus the US dollar because less worthy and the Chinese end up losing big because of the debt they paid to the US. The current Chinese government is not stupid. However I’d say they made a mistake for loaning the money to the US without first seeing how the new government under Obama is doing.

5 comments:

Tapline said...

I don't know enough about debt to speak to this issue. I do know that we are continuing to go deeper and deeper into it and the politicians don't seem to understand it. Seems that with the light beginning to shine of Global warming perhaps we will hawe some money left to live on without it being taxed for Carbon footprint etc....stay well....

JihadGene said...

The Chinese always hooked up North Korea's KIM Il Sung so Obama is a natural fit.

TRESTIN MEACHAM said...

I'm not sure if it was foolish on their part. They are and will use it as leverage in trade agreements and other treaties. We are fools to allow are arch rivals to become our creditor.

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