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HONG KONG: China has bought more than $1 trillion in American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home - a shift that could pose some challenges to the U.S. government in the near future but eventually may even produce salutary effects on the world economy.
Originally posted by CthulwhoAlso, as far a military spending goes, I don't think the USA actually spends that much more than other countries as a percent of GDP, I think it's something like 4%. Don't forget that most of this money goes back into the economy and provides jobs for millions of people.