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The U.S. owes China over $800 Billion, a figure that grows by $20 Billion each month.
In 2008 the US trade deficit with China was $268 Billion
China's GDP is growing at 8.9% while the U.S.'s shrinks by 3.8%
Countless American factories have closed up and moved their production to China
What does it all mean?
Many people have concluded that China will soon grow tired of holding U.S. Treasuries which yield 3% or less. What will they do with their dollars instead? Buy American companies, real estate and other assets? They plan to allow their currency to appreciate, and that will give them greater buying power.
In the 1980's Americans had similar fears about Japan. While the American car companies still struggle in comparison to their Japanese competitors, Japan itself has suffered economically in recent years. One might think it is because all of the stuff sold in America used to be made in Japan but is now made in China.
Will China "foreclose" on the USA and become our overlords? Only time will tell.
In the meantime, browse this site to learn more about our possible future rulers.
Chinese Standard Time
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