Allowing Winnie the Pooh to be our creditor doesn't benefit us either. I'm more concerned about the effect this will have on less hostile countries' willingness to buy our bonds.
He sends us everything...We send him IOUs...That’s a massive benefit for us.
The caveat I'd include is definition of terms is needed. "Us/we" is the government and multinationals, not the people.
We Government/multinationals send China our jobs, to take advantage of their slave state, and in turn gets more affordable but inferior products, which are then sold at massively above cost because of our disproportionately richer economy.
The US is now waiting for a Taiwan conflict to kick off so it can steal $1 trillion in US bonds from China.
So why would China continue to buy US treasuries? Literally burning their cash would be a better strategic move than allowing their enemy to benefit.
Allowing Winnie the Pooh to be our creditor doesn't benefit us either. I'm more concerned about the effect this will have on less hostile countries' willingness to buy our bonds.
He sends us everything from cars to mcdonalds toys.
We send him IOUs which we now plan to CANCEL.
That’s a massive benefit for us.
The caveat I'd include is definition of terms is needed. "Us/we" is the government and multinationals, not the people.
WeGovernment/multinationals send China our jobs, to take advantage of their slave state, and in turn gets more affordable but inferior products, which are then sold at massively above cost because of our disproportionately richer economy.The American people are not benefiting.
Offshoring our manufacturing to them is a benefit to the 1%, not to "us".
Offshoring our manufacturing to China is definitely going to hurt us all in the long run.
Especially if a war breaks out.
But them taking worthless pieces of paper for actual products and commodities was a good trade for us. Biden is now working to undermine that.
If only there was some way for China to not invade Taiwan. Commies don't cause millions of deaths challenge (impossible).