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....I believe it is Japan that owns a huge chunk of our national debt. Hell, they own like most of California.
The innovations still comming from the west, from WESTERNERS. Even if the company is chinese, its westerners doing the working and innovating because they know it will get them rich. They can return to thier home countries richer.
Originally posted by Skadi_the_Evil_ElfAnd Yog, I believe it is Japan that owns a huge chunk of our national debt.
CHINA had US$440 billion (S$755.4 billion) in foreign exchange reserves at the end of March - and no lack of suggestions from its more thoughtful citizens on what it should do with the money.
The amount is the second largest in the world, after Japan's US$795.4 billion.
Although no official figures are available, the widespread belief in China is that as much as 70 per cent of that is held in United States Treasury and other bonds.