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Old 12-11-2012, 11:59 AM
Location: NC
10,002 posts, read 9,429,999 times
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Originally Posted by texdav View Post
Yep and they have a 40% savings rate and have invest much of it in US Tresuries which is basically their retiremnt accoutns .The danger is that they will be cashig in and cause a crsis in this country.bascially our governamnt debt is their retirement accounts. China is out biggest lender and the Japanese are the seocnd. The difference ebtween them and us is they have higgh deficit but its owed to japanese savers.
Most of those treasuries (3.2 trillion total FX reserves) are held by the People's Bank of China due to their policies of currency manipulation. It isn't as though ordinary Chinese are holding them.
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