Foreign aid to China?
Many Senators in the United States Congress are furious about the U.S. sending money to China, in the form of foreign aid.
Why should China be paid any money on the side, when the U.S. was paying a hefty interest rate on the loans it was receiving from that country? If that was not ridiculous, then nothing was.
Two Senators were venting out their frustration on why that should be so. Sen. Tom Coburn (R-OK) had this to say, ""Why in the world would we be borrowing money and then turn around and giving it back to the countries that we're borrowing it from?" and also, "If they have enough of a surplus to loan us money, they have enough of a surplus to take care of their own needs." (Fox News, 10/25/11).
While Sen. Jim Webb was saying, "Hey, in the crisis that we're in right now, should we really be continuing to send American taxpayer dollars over to China for these purposes?" (Fox News).
China, by all estimates, is taking the U.S. for granted, by competing with it all over the globe, economically as well as politically. It is taking advantage of the slow economy that it (U.S.) is presently experiencing, through which it (China) is lending trillions of dollars to the U.S.
It is increasing its naval strength by building two nuclear-powered aircraft carriers, and making Japan and other friendly nations jittery in the Far East, a known and traditionally strategic area, when it comes to U.S. National security.
It is flaunting trade rules, and in addition hoarding U.S. dollars, with no amount of any hesitation whatsoever. "The Senate recently passed a bill to punish Chinese currency manipulation, while the House is about to examine Chinese trade policy across the board." (Fox News).
Under the circumstances, China is no friend to the U.S.; and so, why is it (U.S.) subsidizing it (China), in the form of foreign aid? It is just like carrying "coal to New Castle", as the saying goes.
It is said to be just "millions" of dollars in aid, which is loose change for the Chinese; however, that money must remain in the U.S. to help its own financial recovery.
China can solve its fiscal problems, as it does not need any country's help; so, why the bother for the U.S. to send any foreign aid there? Besides, it (China) does not appreciate it.
The issue is laughable and hard to understand; but it falls on the Obama administration to find a way to stop it forthwith; as Americans are more than furious about it all. It has become America's frustration, that China does not need foreign aid from the U.S.; therefore, why send it?