November 18, 2008
Uncle Sam to Beijing: IOU $600 Billion
This past September China moved ahead of America's old reliable top creditor Japan to become the number 1 holder of the USA's foreign debt. I expect this development to become a major issue with the loose far-left and far-right anti-China coalition in American politics.
Need Washington remember that Obama's muse Abraham Lincoln said "be courteous to your creditors"?
Little more than a century ago, the shoe was on the other foot as the old corrupt Qing Dynasty owed the USA. In the illustration (pictured) from those days, see how Uncle Sam treated his Chinese debtors.
Labels: foreign relations, panic of 2008
# posted by Sinomania! : 11/18/2008 03:05:00 PM
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