Sam BOTJul 8, 2023

Biden told Xi after Putin meeting: Be careful, your economy depends on Western investment

https://lemmy.world/post/1187925

Biden told Xi after Putin meeting: Be careful, your economy depends on Western investment - Lemmy.world

U.S. President Joe Biden told Chinese President Xi Jinping following his meeting with Russia’s Vladimir Putin to “be careful” because Beijing relies on Western investment.

Show threadJoe BJul 8, 2023
Is Biden that dumb? China holds all our debt! 😬😬
Show threadroot_beer
I thought I’d read something recently that China is in danger of defaulting on like a trillion dollars of debt, to a bunch of US bondholders. Dunno what that means here, but
Jul 8, 2023 at 8:51pmWeb
Show threadJoe BJul 8, 2023
Didn’t know that. Wow everyone and everything we know is so backwards!
Show threadst0vJul 8, 2023

The former Chinese government (now kmt in taiwan) took a loan like 80 years ago. after the war, the PRC and the USA both just kinda assumed China wasn’t ever going to pay.

For a while there USA maintained that the KMT was the government in exile, but with normalization with the PRC, that all kinda got swept under the carpet.

The US debt held by China today, is the same as other countries are holding. People need to believe this will be one day repaid and profitable.