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View Diary: Obama's economic plan: step 1. Tackle trade Deficit (90 comments)

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  •  Underwritten by China (0+ / 0-)

    I've read somewhere that China has underwritten a fair share of American debt.

    Does anyone know anymore about this subject?

    In addition, would the amount of money we are indebted to China weaken Obama's hand to be tough when tackling an intricate issue such as the trade deficit?

    'I can't' isn't in my vocabulary...

    by daq3405 on Mon Sep 14, 2009 at 06:33:58 AM PDT

    •  What can China do if we default???? (1+ / 0-)
      Recommended by:
      candycane386

      NOTHING!

      •  you have kind of (0+ / 0-)

        when paulson denied the rescue for lehmann
        his old archrival. even the deutschebank and many more european banks where more than willing to give some billion euros to save lehmann. it would have cost around 30 billion to save them.
        it has costed the world 700 billion since then.
        what else should the world think, if the usa is not able to save a wallstreet founder, then that you are insolvent?

    •  where where you the last 8 years (0+ / 0-)

      china holds around 2000 billion dollar as treasurys
      and for the second question why do you think the GOP  send palin and mccain against him.
      they knew alot of financial and economic trouble was coming and they would have the chance to blame obama( the democrats) for  that ,
      it is starting to happen right now.

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