Quote:
Originally Posted by tjts1
If anyone is biting the hand that feeds its the Chinese. If they stopped buying up US debt they wouldn't be able to do anything with all those dollars we've been paying them for Chinese made goods. They could either burn the dollar for heat or stop exporting goods to the US which their economy is horribly addicted to. I hope some future Chinese government is stupid enough to stop buying up US debt. We should be so lucky. Hell if we so much as threatened to stop selling them US debt I bet they would hand over the 5 perpetrators tomorrow.
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I'm sure you actually believe that.
All the Chinese need to do is stop lending money to our government (they'll continue to lend it to businesses here either way). Most of what the US borrows from them is spent just paying them interest on what we already borrowed, so if the loans stop coming in we wouldn't be able to pay them their interest, meaning we'd default. I'm not sure what the terms of the default are, but I'm guessing they aren't really favorable to the defaulting party...they never are. And no one else is going to loan us money as freely as the Chinese, particularly once we've defaulted on a debt and our rating is downgraded even further.
Yeah, it would cause them a little short-term pinch, but the long term hurt on us would be worse.
I'm as disgusted as anyone else about the Chinese spying on us, but simply naming names when you never have any chance of prosecuting the individuals (or proving the case) is just poking the lion.