More Politics & Law Questions

Loan from China?

I keep hearing the story from people that The Tax relief is actually Money given to us by china. . . Does anyone have any hard / without a doubt proof of this or is it just another Email gossip story?

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Answer #1

Keep in mind that China’s own national debt is much higher than ours, both in gross sum and as a percentage of their GDP.

China would not be able to purchase US debt instruments if they themselves weren’t able to borrow money from Western and other sources. China is on a spending spree that is unmatched in their recent history. They’re buying energy, they’re buying raw materials, they’re pouring money into capital investments like factories. They’re desperately trying to modernize their military because they’ve realized that, unlike 10-15 years ago, they are once again falling behind technologically, especially in areas like air mobility and logistics.

None of this would be possible for them without going deep into debt. They do it because they depend on getting money back from the West in the form of a trade surplus.

So it’s not like China has us in their pocket. Both our nations are hopelessly dependent on each other financially and economically. A recession in the US is not something China wants to see.

Answer #2

The saudi’s also hold a huge piece of our debt. How did it come to this, that two great bastions of civil rights own most of this country. Bush policies are killing us.

Answer #3

…not exactly. It’s coming from the same source as all other public debt, which is public sales of treasury debt instruments. The Chinese own quite a bit of this, but it isn’t a backroom deal from Beijing and Washington.

Answer #4

Also, much of whatever the tax incentive buys will be bought from China through your local big-box (or itty bitty box) store. :-(

Answer #5

Researched - didn’t find anything on it.

Answer #6

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