Saturday, May 28, 2011

China is the United States' Largest Creditor

The United States, easily the world's largest debtor nation, owes most of its money to China. Topping Japan in US treasury bonds, China has soaked up America's debt like a sponge to water. As a result, the United States is increasingly relying on Chinese cash to repay its debts (700 billion dollar bailout). Thus, the Chinese government is gaining more and more sway over the U.S. economy.

The United States has, for the past century, shone as a beacon of hope and prosperity; a land of peace, opportunity, and happiness. But in actuality, the all-mighty American nation is actually the poorest, most debt ridden country in the world.

The 700 billion dollar Wall Street bailout of last year is merely icing on the cake. By this point, it's pretty clear that the America of today is not as powerful as it once was.

How lucky! Too bad it doesn't happen to the best of us.
As frustrating as it might be for some - China is steadily rising as a global power. Not only is the country massive, it has a workforce to match. When China was in desperate need of hydro-electric power, they simply willed one of the world's largest dams into existence (Three Gorges Dam).

The scary thing about the Chinese, at least for conservative Americans, is their determination and hard work. The Chinese dream big, and their accomplishments over the past few decades show this. Chinese society is vastly different from that of the United States; of course, this is common sense. But just how differently the Chinese Communist Party runs its nation is an interesting concept to pursue.

Unlike in American politics, there is no bickering or arguing over national policies. If the party leader says so - it must be so. The party has total control over every aspect of Chinese society; therefore, there are no need for political debates on a daily basis. If the plan is sound, it passes. That's how China gets things done.

When I was in Shanghai, I passed by a small 1 yuan store every day on my way to class. In one night, the entire store closed down and changed into a shoe store. This happened to several other stores in the area. For some reason, this really amazed me, because you never see such dynamic change in the United States.

America seems to have lost its touch, its razor sharp edge of progress and change. The entire nation has become complacent, content with the spoils of a century's worth of war mongering. Now, as the spoils dry up, reality is hitting hard. It's time for some real change in this country.

-Choi


29 comments:

  1. America is technically insolvent. China owns us.

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  2. If only more Americans were willing to pay more for their goods..

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  4. im not really that surprised!
    america is still recovering from the recession...

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  5. This is nothing new. The thing Americans have got going for them is innovation. Look what 1 Microsoft, Apple, Facebook can do for their economy. When that dries up then I'd start to worry.

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  6. i think there's a tradeoff between market dynamics and regulation, there's probably a lot less quality/health regulations in China than in the States. Though I gotta agree that when you see the economical success of places like China or even Singapore where it's just a bunch of guys taking all the decisions, you can't help but feel like democracy's sometimes pretty unefficient...

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  7. I agree with you, Marc. The U.S. still has some tricks up its sleeves. Innovation is a big one. There's a negative stereotype associated with Chinese workers: that they have no creativity. But in my humble opinion, creativity is overrated. It's not as if there are no creative Chinese entrepreneurs; it's just that there aren't many. If the entire population of China got into the right "creative mindset," so to speak, the global situation might shift very quickly and unexpectedly.

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  8. people in america think we donate 25% of our budget to foreign aid, the real number is a decimal

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  9. Sometimes i ask myself what would happen to us if China were to disappear haha

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  10. America is filled with rotten people who control too much and that is why China is what it is.

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  11. It really is quite ridiculous the amount of debt that America is currently in.

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  12. Did you write this all yourself? This is an impressive article definitely following! ^.^

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  13. I'm English myself, but I can respect the hard-work that the Chinese nation is proud of. I've never really liked the whole idea that the nation cannot shift out of a political position just because one person seems to say so though. I've always considered it to take away from an average person's ability to change. But now that England is going down the tubes, and our politicians back-tracing on their political campains that they where voted in on. Maybe the Chinese do have the right idea..

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  14. China is becoming increasingly relevant. Even though it lacks the necessary infrastructure to become a world power, there's no doubt it will continue to be a growing source of influence in the international community. Thanks for the post; keep on writing. 加油!

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  15. interesting post, I've yet to visit China myself

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  16. this provides a scary outlook for the US

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  17. Very interesting...would like to visit both China and the US

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  18. Interesting read. America really needs to take a page from Chinas book.

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  19. This is the blog I was looking for!Followed.I want to know more about far east.

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  20. That is frightening infomration...thanksf or posting.

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  21. China is going to be the superpower

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  22. The US really needs to get this debt situation under control or they'll lose their stronghold over the world soon.

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  23. keen observation! good one, keep dazzling me

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  24. Every time I see a cartoon like that it reminds me of Fallout haha, but yeah I get what you mean. The States aren't as influential as they used to be. Sure we're a powerhouse right now, but damn look at China. There's gonna be changes happening soon.

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  25. Such an awesome blog! Totally going to follow you. Very informative :)

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