China owns $1.16T of the $5.292T owned by foreign companies. We the people own about $11.1T.Originally Posted by Joy in Mudville
As we Americans complain about finding only "Made in China" products, it would seem our government has made the decision that we like these cheaper Chinese products and of course it benefits our economy and keeps the debt interest rate low. What will happen the day we stop buying Chinese products?
"The U.S. allowed China to become its biggest banker because the American people enjoy low consumer prices. Selling debt to China allows the U.S. economy to grow by funding federal government programs. It also keeps U.S. interest rates low. However, China's ownership of U.S. debt is shifting the economic balance of power in its favor."
http://useconomy.about.com/od/worlde...t-to-China.htm
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