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China criticises $$$$

Posted by parrotpatriot on July 12, 2009

While most of America is happily distracted by Michael Jackson’s murder and a host of other nonsense, China is feeling a little nervous that we’ve borrowed so much money from them:

China holds nearly $2 trillion (£1.23 trillion) of foreign debt, the bulk of which is denominated in dollars, and has expressed its displeasure at the US government’s huge deficits and the Federal Reserve’s monetary policy. Beijing wants the US to feel obliged to sustain the value of China’s assets.

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