China ‘Worried’ About US Treasury Holdings
Premier Wen Jiabao’s message is unlikely to be misunderstood at the White House. It is counting on Beijing to help pay for its stimulus package by buying U.S. bonds. China already is Washington’s biggest foreign creditor, with an estimated $1 trillion in U.S. government debt. A weaker dollar would erode the value of those assets.
Why, as a country, have we allowed ourselves to be in this position? Are we so desperate that we cannot function without money from a country that many consider our enemy? How can we still consider ourselves the greatest nation on the planet when we our our souls to another? The Chinese must believe in us to invest so much, but do we understand all of their motives for investing so much of the capital in the United States.
This does not look or feel right and I hope will not come back to bite us in the you know what.