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Old 20-03-2021, 07:03 PM   #364
oldel
FF.Com.Au Hardcore
 
Join Date: Nov 2009
Location: Perth
Posts: 1,657
Default Re: Australia - China - Poltics

LOL, you think China were only saying that because of who's in the whitehouse?
No, it's because the west is stuffed if China wants to start something.

Like australia, US farmers etc depend on China trade.
Like the rest of the world, we are dependant in chinese manufacturring.

lastly China has 1 trillion dollars of US debt that they can ask for.

Doesn't matter who's in the whitehouse, china had been buying the west for decades. That's what they meant.

"Why does China buy US debt?
China has been running a large trade surplus in goods and services for years, meaning it exports more than it imports. As such, its international income has also increased from its growing trade surpluses,
with many of the trade transactions with businesses in the US and other countries paid for with US dollars. Thus, China accumulates US dollars, which it uses to buy assets denominated in US dollars – securities such as bills, notes and bonds issued by the United States Department of the Treasury on behalf of the federal government to fund its annual budget deficit and roll over existing debt.– as well as assets in other currencies. These assets are included in its foreign exchange reserves, which are now the largest in the world at US$3.22 trillion."
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