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Posted on 7/5/17 at 5:00 pm to lsuguy84
quote:
But I thought China controls so much of our debt that they would be able to cripple US financially? Hmm...more lies?
They could try to do stuff, but it would hurt them as well. Do you think they have some red button that says "Cripple US Financially"?
Posted on 7/5/17 at 5:00 pm to lsuguy84
quote:
But I thought China controls so much of our debt that they would be able to cripple US financially?
Last time I checked China owns about $1.2 trillion.
But just for the sake of a thought experiment, what would happen to the Chinese economy if they sold that debt?
It would not be good. Americans would slow down the purchase of Chinese goods.
Why?
Selling American debt would plummet the dollar. High supply begets lower prices. A lower dollar is terrible for the Chinese economy. They love the strong dollar because Americans can afford to buy cheap Chinese goods.
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