China as money lender
4 posters
Page 1 of 1
China as money lender
It's my understanding that China is a Communist country. The rhetoric I'm historically aware of suggests Communism does not generally support Capitalism.
If the above synopsis is in any way accurate, and with the American Election in mind, I'm keen to know the answer to three questions.
1. How much money does America owe China for loans?
2. How did China raise the loan money in the first place?
3. If China is so cash wealthy, should America be reviewing it's politics and economies with the view of ending national debt?
If the above synopsis is in any way accurate, and with the American Election in mind, I'm keen to know the answer to three questions.
1. How much money does America owe China for loans?
2. How did China raise the loan money in the first place?
3. If China is so cash wealthy, should America be reviewing it's politics and economies with the view of ending national debt?
_________________
‘The streets of Forumshire must be Dominated!’
Quoted from the Needleholeburg Address of Moderator General, Upholder of Values, Hobbit at the top of Town, Orwell, while glittering like gold.
Orwell- Dark Presence with Gilt Edge
- Posts : 8904
Join date : 2011-05-24
Age : 105
Location : Ozhobbitstan
Re: China as money lender
Orwell wrote:It's my understanding that China is a Communist country. The rhetoric I'm historically aware of suggests Communism does not generally support Capitalism.
If you're at all interested in this stuff Orwell, I highly recommend the book "Debt: the first 5,000 years" by David Graeber. I guarantee it will make you rethink what you thought you knew about world and local economics. Here's a quick cut/paste from Wikipedia' synopsis on real communism:
The concept of "everyday communism"
In Debt: The First 5,000 Years, Graeber proposes a concept of "everyday communism" which he defines, when analysing peasant lives as "The peasants" visions of communistic brotherhood did not come out of nowhere. They were rooted in real daily experience: of the maintenance of common fields and forests, of everyday cooperation and neighborly solidarity. It is out of such homely experience of everyday communism that grand mythic visions are always built."Also "Society was rooted above in the "love and amity" of friends and kin, and it found expression in all those forms of everyday communism (helping neighbors with chores, providing milk or cheese for old widows) that were seen to flow from it."
As for your questions,
1) It's a little rude to ask someone about the details of their indebtedness, don't you think?
2) Easy! Step #1 We ship them our garbage for free. Step #2 They recycle it and sell it back to us for a profit. Step #3 We throw it away. Step #4 Repeat step #1.
3)That's a good question for our next president.
_________________
David H- Horsemaster, Fighting Bears in the Pacific Northwest
- Posts : 7194
Join date : 2011-11-18
Re: China as money lender
Most of the debt is the wealthy Chinese (made rich largely off our money btw (Walmart, I'm looking at you)) buying US government bonds as a safe investment. There's no rules against it, but maybe if it had been thought through, only citizens should be allowed to buy government bonds. I suppose it's possible the chinese government bought the bonds and wouldn't that be something!
_________________
Halfwise, son of Halfwit. Brother of Nitwit, son of Halfwit. Half brother of Figwit.
Then it gets complicated...
halfwise- Quintessence of Burrahobbitry
- Posts : 20601
Join date : 2012-02-01
Location : rustic broom closet in farthing of Manhattan
Re: China as money lender
Seems I'll have to take a look at that book, Dave - seeing you can't synthesise an answer in a quick post!! - and are not even willing to face up to your indebtedness to the Chinese...
I never assumed your borrowings from the Chinese as being in any way illegal, Halfy... I was just keen to know why the need to borrow, and how the Chinese managed to find the money to lend it to you... Though I presume a certain book - no doubt long, detailed and complicated - will 'larn' me on the subject, damnabbit!
I never assumed your borrowings from the Chinese as being in any way illegal, Halfy... I was just keen to know why the need to borrow, and how the Chinese managed to find the money to lend it to you... Though I presume a certain book - no doubt long, detailed and complicated - will 'larn' me on the subject, damnabbit!
_________________
‘The streets of Forumshire must be Dominated!’
Quoted from the Needleholeburg Address of Moderator General, Upholder of Values, Hobbit at the top of Town, Orwell, while glittering like gold.
Orwell- Dark Presence with Gilt Edge
- Posts : 8904
Join date : 2011-05-24
Age : 105
Location : Ozhobbitstan
Re: China as money lender
I see you didn't quite understand what's going on with government bonds. They are out there for anyone to buy. There's no government intent whatsoever except perhaps in the number issued. They don't pay attention to who buys them, but I'm thinking it might be good economic policy to say only your own citizens can loan money to the government via the free market system; foreign debt should be controlled.
_________________
Halfwise, son of Halfwit. Brother of Nitwit, son of Halfwit. Half brother of Figwit.
Then it gets complicated...
halfwise- Quintessence of Burrahobbitry
- Posts : 20601
Join date : 2012-02-01
Location : rustic broom closet in farthing of Manhattan
Re: China as money lender
Ha! Morally illegal then??? (I'm no economist - or whatever it is I need to be just here... ) --- Um.... Does anyone in America actually want to buy these bond things? Sounds a scam!
Read intro on a free Pdf on the Internet, Dave. Fascinating. The Myth of Barter is calling me now! Fancy me reading something about finance thingees without actually expiring! But the Author makes it all sound all historical amd interesting, and ethically challenging!!! Makes you think! Wow! But I do hope there are no chapters on actual mathematics though... Counting, I mean...
Read intro on a free Pdf on the Internet, Dave. Fascinating. The Myth of Barter is calling me now! Fancy me reading something about finance thingees without actually expiring! But the Author makes it all sound all historical amd interesting, and ethically challenging!!! Makes you think! Wow! But I do hope there are no chapters on actual mathematics though... Counting, I mean...
_________________
‘The streets of Forumshire must be Dominated!’
Quoted from the Needleholeburg Address of Moderator General, Upholder of Values, Hobbit at the top of Town, Orwell, while glittering like gold.
Orwell- Dark Presence with Gilt Edge
- Posts : 8904
Join date : 2011-05-24
Age : 105
Location : Ozhobbitstan
Re: China as money lender
Oh yeah, Dave, your above quote about China is already making more sense.
_________________
‘The streets of Forumshire must be Dominated!’
Quoted from the Needleholeburg Address of Moderator General, Upholder of Values, Hobbit at the top of Town, Orwell, while glittering like gold.
Orwell- Dark Presence with Gilt Edge
- Posts : 8904
Join date : 2011-05-24
Age : 105
Location : Ozhobbitstan
Re: China as money lender
I just looked up some numbers.
The US national debt is apparently $14,300,000,000,000.
Of that, the Chinese own about $ 1,200,000,000,000.
The Japanese own another $ 912,000,000,000.
And the UK owns another $ 347,000,000,000.
The US national debt is apparently $14,300,000,000,000.
Of that, the Chinese own about $ 1,200,000,000,000.
The Japanese own another $ 912,000,000,000.
And the UK owns another $ 347,000,000,000.
_________________
David H- Horsemaster, Fighting Bears in the Pacific Northwest
- Posts : 7194
Join date : 2011-11-18
Re: China as money lender
I assume a lot of other countries and individuals have lent you people money --- hey! I better check my piggy bank... My piggy bank!!! Well, I'll need not get that thirty eight cents back.. And there's my missus thinking it a good investment... America... Oh pish!!!
_________________
‘The streets of Forumshire must be Dominated!’
Quoted from the Needleholeburg Address of Moderator General, Upholder of Values, Hobbit at the top of Town, Orwell, while glittering like gold.
Orwell- Dark Presence with Gilt Edge
- Posts : 8904
Join date : 2011-05-24
Age : 105
Location : Ozhobbitstan
Re: China as money lender
I would like to borrow from China.
Mrs Figg- Eel Wrangler from Bree
- Posts : 25933
Join date : 2011-10-06
Age : 94
Location : Holding The Door
Re: China as money lender
I'm posting here because otherwise people would mistake the meaning of the title "Islamic Finance." The basic tenent of Islamic finance is that moneylenders can't collect interest, they can only collect a portion of the profits. So Banks would only make loans they believe in, and do everything they can to support the businesses they loan to. I'm a big believer in it, and in the clip below some banker is saying it would have prevented the crash of 2008:
https://www.yahoo.com/finance/video/islamic-finance-could-averted-2008-025100629.html
https://www.yahoo.com/finance/video/islamic-finance-could-averted-2008-025100629.html
_________________
Halfwise, son of Halfwit. Brother of Nitwit, son of Halfwit. Half brother of Figwit.
Then it gets complicated...
halfwise- Quintessence of Burrahobbitry
- Posts : 20601
Join date : 2012-02-01
Location : rustic broom closet in farthing of Manhattan
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum