I have one nagging question that will not go away. Maybe someone smarter than I can answer it for me.
If China is so poor in natural resources, how is it that all these nations (we being the largest) seek their currency to finance our debt?
Their currency has to be valued higher than it is actually worth, if there are no resources backing it.
If they should "call on our debt" they will get what they actually want, our resources, which by most estimates are phenomenal.
I say that China is very devious in its assessment of their own currency and their goal is to gain the whole world through default.
China
Discussion in 'Political Debate & Discussion' started by Palatka51, Jan 27, 2013.
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Crabtownboy Well-Known MemberSite Supporter
2. They have a number of rare earth deposits that brings them money.
3. They are using their money to lock in natural resources for their use in the future, especially in various parts of Africa.
Check the following web site: http://factsanddetails.com/china.php?itemid=341&
http://www.nasdaq.com/article/us-says-china-yuan-significantly-undervalued-20121127-01266
From my perspective China's biggest challenge is the social problems they have and will have in the future. There is a growing gap between the rich and the poor. Historically this has led to great unrest and the overthrow of numerous dynasties in the past. They have HUGE social problems. -
http://www.youtube.com/watch?feature...&v=M09HKwSFffE
The Obama administration is quietly allowing China to acquire major ownership interests in oil and natural gas resources across the U.S.
The decision to allow China to compete for U.S. oil and natural gas resources appears to stem from a need to keep Beijing economically interested in lending to the U.S. The Obama administration has run $1-trillion-plus annual federal budget deficits since taking office that likely will continue in the second term.
Allowing China to have equity interests in U.S. energy production is a reversal of the Bush administration's policy. In 2005, the Bush administration blocked China on grounds of national security from an $18.4 billion deal to purchase California-based Unocal Corp. -
Thank you Poncho
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InTheLight Well-Known MemberSite Supporter