Tuesday, February 02, 2010
Hi All,
On a regular basis we hear that the Chinese government now owns much of the US foreign debt and there is the underlying threat that they could somehow bring down the US. I am not sure how they would do this but I am well aware that much of the Chinese economy depends on US consumers. In the current recession our imports from China are down 20% from 2006 and 2007. If our economy goes in the tank then consumers will no longer be going to Walmart and China will be hurt. When we have a recession here people suffer but in China the people would riot. I believe China has a vested interest in our economic success and these arguments about China bringing us down are highly exaggerated.
Jack , John Novick
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