Better hope China doesn't get too deep into ownership of GM. They make military vehicles as well as cars, you know. Not to mention Bell Helicopter,
etc., and the rest of the military.
I agree the US put itself in this position, but on the other hand before long things are going to have to change one way or another. You can argue
until you are blue in the face about whose fault it is, but any way you cut it, it is an unsustainable situation for both parties.
Something I keep coming back to: In 1998, Russia defaulted on its massive debt. Just said "**** you, Goldman Sachs and Morgan Stanley," and walked
away. It caused a global near-crisis at the time, but today Russia is much better off than it was a decade ago: It tightly controls its resources and
manufacturing, limits the role of finance, and so forth. Of course you've got to have a man of will at the helm, and the general tack taken pretty
much flies in the face of "democracy" and "free markets." But they did what they needed to do.