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US drowned by China debt?

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posted on Dec, 10 2010 @ 05:26 AM
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finance.yahoo.com...

China this year became the world's second-largest economy, but the U.S. gross domestic product remains more than two and a half times bigger than China's, according to the International Monetary Fund. On a per capita basis, the advantage is nearly 11-to-1. China's economy has grown much faster than the U.S. for years, however, and Beijing has amassed an enormous surplus in its international accounts while accumulating huge amounts of U.S. government debt.

Follow-up interviews suggest that Americans have such trends in mind when they cite China as the top economy. "They obviously are lending the United States a lot of money," said Kim Lomas, a kindergarten teacher in Naples, Fla. "And they seem to be exporting a lot to our country. It seems like everything I pick up says 'Made in China' on it." Scherer worries about China's edge in building things: "They're catching up to the U.S. as far as manufacturing," he says. "And I just see that trend continuing." Rigby frets about America's reliance on China to purchase its government debt. "China will one day knock on the White House door and ask us to pay up or take over," she says.


The US debts are closing in on 13 trillion : debt clock

How much more can the national financial market take? Meanwhile China and other developing countries are raking in the interest, build up their economy and science and supply goods en masse .

However, one need to consider that the US per capita debt is not as large as some Europeans countries, where the situation sometimes looks much dire! external debt by country

It is also possible that there is a contingency plan in place by the US and western nations to hold on to their first place in terms of industrial strength?




posted on Dec, 10 2010 @ 05:50 AM
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Lol @ the world being in debt 56,900,000,000,000$.

I don't understand.



posted on Dec, 10 2010 @ 06:02 AM
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reply to post by heyJude
 


This is something I've yet to fully understand myself.


Originally posted by nagabonar
How much more can the national financial market take


As much as they want. It won't crash until they're ready for it to crash.



posted on Dec, 10 2010 @ 06:07 AM
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reply to post by nagabonar
 


Not sure what to believe here..
I check your link and see my country, Australia, with a debt per capita of over $42,000..
That seems way over the top, so I check another source and see it around $6,400..
Still high but which one is correct??
www.debtclock.com.au...

BTW, it's obvious to see the US is screwed with all their bailouts etc but Australia came through the US inflicted GFC mostly un scathed..



posted on Dec, 10 2010 @ 06:09 AM
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Originally posted by heyJude
Lol @ the world being in debt 56,900,000,000,000$.

I don't understand.


You really have to wonder who lent that much money to the world or is it just pixels on a screen making interest for the greedy???




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