As you know, China has been the primary underwriter of all our gross domestic and foreign spending for the past several years. We are trillions and trillions in debt, most of which is due to China. We are now utilizing an aid package which will hurdle us further into debt with China. This past Sunday, Hilary Clinton asked China to continue to purchase US debt. This was the last leg of a journey through four Asian countries in an effort to repair America’s tainted image in Asia. Lately we have become less than popular with most of the world because of the economic crisis.
Clinton made an interesting statement, “By continuing to support American Treasury instruments the Chinese are recognizing our interconnection. We are truly going to rise or fall together.” Do you believe that these statements are true? Surely the Chinese aren’t as dependent on us as we are on them. Should we be borrowing so much money from foreign nations? What if this aid plan fails, will we simply borrow more money from China. I would like to submit that it is possible that China could cut us off at some point. I think that we need to be careful here. We need to remember that China has one of the most advanced space espionage programs in the world. Several times they have accessed classified US government information by hacking into our systems. Do we really want to trust another nation with our livelihood? What negatives do you see of borrowing from China? For one we will be paying down this debt for years and years. Furthermore, what if they decide we aren’t paying this fast enough? We could end up with an enemy on our hands if we don’t handle this correctly.
