China has surpassed Japan as the U.S. government’s largest creditor. China owns at least 10 percent of all U.S. debt, as much as $800 billion dollars.
Brad Setser of the Council on Foreign Relations speaks with Martin Savidge about the potential upset of the balance of power and mutual influence between the U.S. and China.
01/14/2009 :: 04:07:59 PM
James Klich II Says:
Here is an idea for 2009. Maybe China should write off some debt for the United States as a goodwill gesture. This would send a good message to the rest of the world. In return the U.S. could help another country and so on. Would this not start 2009 off to a good start.