Why is the US trying to pressure China about their money?
Does anyone else see this as a ploy to cheat China out of a bunch of money that the US has borrowed? Making there money inflate, to where it is 4 to 1 vs. 6.8 to 1 would not be in Chinas interest. So why are US politicians claiming it would be good for China?
Current Events - 2 Answers
Random Answers, Critics, Comments, Opinions :
1 :
They're going to have to cheat China out of some of the money owed, same as they'll have to cheat everyone else money is owed to. Money was and is being spent so far beyond our potential for repaying it there won't be any alternative. A dollar has value in relation to some product produced in the US. All our production has gone elsewhere. They're even including insurance sales in the gross national product to create the illusion we're producing something besides raw materials. China bought a huge portion of the US National debt and a larger portion of the trade deficit. Bad cess. They're usually smarter than that.
2 :
If they don't re-value their currency to float instead of being pegged to the USD and yet continue to own so much American debt, our debt will cost us more in interest payments and will just balloon forever. I don't know about finance but that looks like our economy can be controlled by China.
