Biting the hand that feeds you...

[Can't Know]

How hard are we going to push this? After all, they can stop lending us money to (mostly) pay them interest any time they like...

(Reuters) - China summoned the U.S. ambassador after the United States accused five Chinese military officers of hacking into American companies to steal trade secrets, warning Washington it could take further action, the foreign ministry said on Tuesday.

The U.S. Ambassador to China, Max Baucus, met with Zheng Zeguang, assistant foreign minister, on Monday shortly after the United States charged the five Chinese, accusing them of hacking into American nuclear, metal and solar companies to steal trade secrets.

Zheng "protested" the actions by the United States, saying the indictment had seriously harmed relations between both countries, the foreign ministry said in a statement on its website.

Full article here: China confronts U.S. envoy over cyber-spying accusations | Reuters

[t walgamuth]

Dang!

It is us pointing out their theft that is causing trouble, not their theft!

[tjts1]

Originally Posted by Can't Know

Biting the hand that feeds you...

How hard are we going to push this? After all, they can stop lending us money to (mostly) pay them interest any time they like...

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.

[MTI]

An ambassador meeting an "assistant foreign minister?" How's that for a snub.

BTW, the US gave Chinese officials a considerable amount of "heads up" notice, so what we're seeing there is part of the Beijing opera.

[Can't Know]

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.

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.

[Dudesky]

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.

Wonder what would happen if the Chinese cashed in all their T-bills?

Notice Ivan said no no to the space station?

[tjts1]

Originally Posted by Dudesky

Wonder what would happen if the Chinese cashed in all their T-bills?

The US Government would have no trouble buying back and retire those bonds for pennies on the dollar without ever defaulting. We win... again.

[Botnst]

All China has to do to recoup their investment in the USA is repossess government property and sell it off on open bid.

BONUS: That would give Mr. Bundy what he wants, too!

[Can't Know]

Originally Posted by Botnst

All China has to do to recoup their investment in the USA is repossess government property and sell it off on open bid.

BONUS: That would give Mr. Bundy what he wants, too!

What does Al want now? I mean other than Peg to leave him alone...

[Botnst]

LOL!

[John Galt]

Originally Posted by tjts1

.. 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 would continue using US dollars to buy oil and other resources around the world, and real estate in the USofA.

[Jim B.]

Originally Posted by MTI

An ambassador meeting an "assistant foreign minister?" How's that for a snub.

BTW, the US gave Chinese officials a considerable amount of "heads up" notice, so what we're seeing there is part of the Beijing opera.

I don't like Chinese music.

P.J. O'Rourke doesn't either.


"Unfortunately, Asia is the continent that music forgot. At best Asian music is off-brand American pop, like Sonny Bono in a karaoke bar. At worst, Asian music sounds as if a truck full of wind chimes collided with a stack of empty oil drums during a birdcall contest."

~~~ "All The Trouble In The World" (1994)

[INSIDIOUS]

Originally Posted by Can't Know

How hard are we going to push this? After all, they can stop lending us money to (mostly) pay them interest any time they like...



Full article here: China confronts U.S. envoy over cyber-spying accusations | Reuters

Push it all the way to the cash register. Try these guys in world court or at home and then fine them trillions. Hold the Chinese Gov accountable and apply that against the debt. Deduct costs of collection from the fines, then tax the bejesus out of the rest of what is awarded to the victimized. Win/win.

[Jim B.]

That will suffice;

You may step down

[Can't Know]

Originally Posted by INSIDIOUS

Push it all the way to the cash register. Try these guys in world court or at home and then fine them trillions. Hold the Chinese Gov accountable and apply that against the debt. Deduct costs of collection from the fines, then tax the bejesus out of the rest of what is awarded to the victimized. Win/win.

Uh, no.

You can't make up the penalties any way you like. They have to be based upon existing laws.

Of course I don't need to add that international law is incredibly complex, because facts don't seem to matter anyway as you're making up what you like anyway.