Re: China is financing US enormous deficit
- From: johndockery8@xxxxxxxxx
- Date: Wed, 24 Oct 2007 20:41:44 -0700
On Oct 23, 10:00 am, david_huang2...@xxxxxxxxxxx wrote:
The problem is that we, the Chinese taxpayers, are paying for it by
our government buying all these T-bonds that your gov't issues. You
make too many noises about the trade deficit, how faulty Chinese
products allegedly are, complain about Chinese investments in the USA,
which may be deemed "national security risk" etc. But if my gov't
pulls all its 1.45 trillion (1,450,000,000,000) dollar reserves at
once, expect an inflation rate spike almost overnight, which is bound
to spike your interest rate by at least 0.75 base points. Let's see
you then threatening us with economic measures...
David Huang
Borrow $100,000 from a bank and the banks owns you. Borrow
$100,000,000 and you own the bank.
Complain all you want; as will many Americans. The truth is that both
economies are closely tied. If China dumps the dollar then China will
sink into a depression so dark and deep rural India will look like
high times.
The Asian financial crisis will seem like a walk in the park. The US
will also be pretty bad but we all have TVs to be entertained by how
much worse it will be for everyone else.
I'm not happy about Asian central bankers having more influence over
our rates by owning huge positions in dollars. That's the way things
are running right now.
.
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