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The US government is in debt an amazing
$8 trillion, which averages out to over
$25,000 per US citizen (have you added that
number to your net worth profile)
Contrast that with the $1 Trillion US Dollars
the Chinese government has in reserves,
which is due to rise a few trillion dollars
every few years.
The Chinese own so much of the US debt,
that they can effectively move US interest
rates by increasing or decreasing their
demand for the debt, meaning eventually
any movements the US tries to make as far
as cutting or raising interest rates to
control the growth of the US economy would
effectively have to be cleared with China
first.
Imagine....having our capitalism based
economy "controlled" by a communist
country. Scary.
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