Thursday, October 17, 2013

U.S. Debt

Here are the figure of the debt of the U.S.A.:
http://usgovinfo.about.com/od/moneymatters/ss/How-Much-US-Debt-Does-China-Own.htm 

Of this amount:
The largest foreign holder of U.S. debt is China, which owns more about $1.2 trillion in bills, notes and bonds, according to the Treasury.

The problem about this is that by Confucian thinking (despite Karl Marx and Mao Zedong, they still have traces of this kind of cultural thinking) the above state of affairs would be deemed utterly disgraceful. This means that China unconsciously is will have an ill-disposed stance towards its debtor.

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