Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Our Indebtedness to China?

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
 
SHRED Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-05 09:23 AM
Original message
Our Indebtedness to China?
What happens when China demands to "repatriate" Taiwan?
Or when China really starts getting squeezed for fuel as petroleum gets scarcer?

Will they threaten "calling in the notes", on our debt to them, as a weapon?
Could they seriously do this without taking too much of a toll on their own economy?
Have the Republicans, through their debt ridden trade policies, left us in a vulnerable security position?
How much of this is the Repubs fault?

Could someone more versed than me, clue me in here?

:eyes:

Thanks

Printer Friendly | Permalink |  | Top
1932 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-05 09:29 AM
Response to Original message
1. They need a healthy US to buy their stuff as much as we need them to
buy our debt.
Printer Friendly | Permalink |  | Top
 
acmejack Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-05 09:32 AM
Response to Original message
2. I have long been concerned about economic warfare.
The Chinese are excellent at conceiving and executing long range plans. They will not hesitate to use our debt as a club when it suits their interests. They would be foolish to ignore such obvious leverage and we know they are anything but fools.
Printer Friendly | Permalink |  | Top
 
Hosnon Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-05 10:14 AM
Response to Original message
3. I''m less worried about China knowing the size of our debt to them...
Owe the bank $10,000, it owns you, owe the bank $10,000,000 and you own it.
Printer Friendly | Permalink |  | Top
 
tularetom Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-05 10:35 AM
Response to Original message
4. China needs the US to buy their crap
It's really a circle jerk. They loan us the money then we give it right back to them in exchange for cheaply made products. If they stop lending us money they have no market for the goods they produce. Until the rest of the world gets rich from US corporations outsourcing more and more work that is. THen you'll see a majr tightening of the money supply from China and Japan.
Printer Friendly | Permalink |  | Top
 
Horus45 Donating Member (317 posts) Send PM | Profile | Ignore Sat Nov-26-05 10:45 AM
Response to Original message
5. It's so hard to believe...
that when Clinton left office our debt was about $550 Billion and now 5 years later our debt has ballooned to nearly $8 Trillion.
Lots of criminals are getting rich.
Printer Friendly | Permalink |  | Top
 
pushycat Donating Member (401 posts) Send PM | Profile | Ignore Sat Nov-26-05 06:16 PM
Response to Reply #5
7. Is there any way to recover any of our treasury from the thieves?
Can individuals in positions of responsibility ever be held personally liable for the loss of a US resource? For instance, a bunch of cash air-freighted to Paul Bremer in Baghdad just disappeared and no records exist detailing its handling. Can he be held personally responsible for the unaccountable cash?

http://en.wikipedia.org/wiki/Paul_Bremer
<snip>
On January 30, 2005, an official report by the Special Inspector General for Iraq Reconstruction, Stuart Bowen, cited by Time, stated that $9 billion for the reconstruction of Iraq might have disappeared in frauds, corruption and other misbehaviour. On one particular salary register, only 602 names among 8206 could be verified. As another cited example, the Coalition Authority authorised Iraqi officials to postpone declaring the reception of 2,5 billions of dollars, which the provisiory government had received in spring through the Oil for Food program. <9> <10>

Bremer wrote an eight-page reply to deny the accusations according to The Time article stated that, during the IG's inquiry, Bowen's people refused to interview Bremer's deputies, and the IG's report failed to mention that Bremer and his people worked under extraordinary conditions, faced a high turnover rate, and had insufficient number of personnel to carry out their rebuilding and humanitarian relief efforts. Bremer's claim that Bowen's staff made no attempt to interview his staff is at odds with the detailed account of the external auditors, of their attempts to meet with Bremer and his staff. In the management notes they describe how some of the CPA's senior staff, including Bremer himself, just would not make themselves available to meet with the auditors. Others, like George Wolfe, the CPA's de facto treasurer, showed a total lack of cooperation.<snip>
Printer Friendly | Permalink |  | Top
 
rockymountaindem Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-05 03:52 PM
Response to Original message
6. I'm glad to see people on this thread aren't buying into the hype
Yes, we owe a lot of money to China. I asked about this yesterday. It seems that out of all the debt we have (8 trillion) we owe 226 billion to China. A hefty chunk, but not a large percentage of either the debt or the GDP.

Posters upthread made two good points. 1) China would be nowhere without a healthy US to buy up all their exports. 2) If America crashed, China would never see a dime of that money. Therefore, it is not in China's interest to undo the US economy.

Printer Friendly | Permalink |  | Top
 
Clutch Cargo Donating Member (156 posts) Send PM | Profile | Ignore Sat Nov-26-05 06:57 PM
Response to Original message
8. If someone owes you 10.00
and refuses to pay, then they got you for the bill.

If you owe someone 1,000,000 and refuse to pay, you got them by the balls.
Printer Friendly | Permalink |  | Top
 
Egalitariat Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-05 07:44 PM
Response to Original message
9. Buyers of US debt don't have the option to "call in the notes"
The can sell the notes on the open market or wait until they mature, but there is no option to demand payment.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed Jul 30th 2014, 06:11 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC