Post by JP Cusick on May 7, 2011 8:30:54 GMT -5
There is a lot of unjust complaints about China holding the US national debt and I find that claim to be unjust.
The given stats are on Wikipedia click HERE, and China is said to hold 26% of the foreign holders as of December 2010, at the amount of $1.161 trillion but then we find that the US national debt is some 13,551 trillion dollars so China holds less than 10% of the total which is not a majority.
Plus we the USA need other Countries to buy our debt and that makes China as our best friend in this regard.
To complain would be like getting a loan from a bank and then cursing that same bank for holding our debt which is severely lacking in gratitude.
In fact I say we are better off and better served since it is China doing the most since China is a great Country with a great people instead of the USA seeking such loans from any less favorable of Country.
JP
The given stats are on Wikipedia click HERE, and China is said to hold 26% of the foreign holders as of December 2010, at the amount of $1.161 trillion but then we find that the US national debt is some 13,551 trillion dollars so China holds less than 10% of the total which is not a majority.
Plus we the USA need other Countries to buy our debt and that makes China as our best friend in this regard.
To complain would be like getting a loan from a bank and then cursing that same bank for holding our debt which is severely lacking in gratitude.
In fact I say we are better off and better served since it is China doing the most since China is a great Country with a great people instead of the USA seeking such loans from any less favorable of Country.
JP
