Quote:
Originally Posted by Armistead
China owns a large portion of our debt, enough that if we didn't pay them back could easily destroy their upcoming economy...
|
Large portion? Nah. About 20%.* And yes if we defaulted on any of our bills (regardless of who owned them) it could have adverse affects on the borrowing country.
Good thing the US has never defaulted on any of their bills... which is why they are such a good investment for countries.
*
http://www.ustreas.gov/tic/mfh.txt