Does China need the US Market more than we need them to buy our bonds?
Through their state sponsored media, the Chinese have been dropping veiled threats at President-Elect Trump due to his speaking with Taiwan and speaking out loud about how they devalue their currency. China only owns about 6.5% of the US debt currently; much less than everyone in government wants the people to think. The belief is that China needs our markets much more than we need their money or anything else. India, a democratic nation, is already gearing up for a possible entry into our markets, replacing Chinese goods if necessary. Is Communist China about to be schooled?
It is a trade partnership. Both parties, China and the US will suffer if a trade war breaks out. The currency is the bigger problem. In order for a fair trade to take place, the currency of the countries must be adjusted based on the strngth of the country's economy. By manipulating the currency, China has unduly affected the free trade between our countries.
I think it would be a great thing if China's domestic market grew enough that they didn't have to sell stuff to us by the millions of tons to keep their people employed.
Right now, though, they need us buying their stuff to avoid mass violence from unhappy, unemployed people.
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