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foreign policy and global economy

Archive for the tag “public debt”

China’s Debt Bomb

It’s a bomb! A mountain! A horror movie and a treadmill to hell! To doomsayers, China’s $25 trillion pile of public and private debt is a threat to the global economy. Or maybe it’s just a manageable byproduct of the boom that created the world’s second-biggest economy.

Read Here – Bloomberg

Why China May No Longer Be America’s No. 1 Debt Buyer

You hear it all of the time. The problem is that the government is borrowing from China to fund our stupid spending programs, or popular subsidies, or tax cuts. Mitt Romney (remember him?), in a presidential debate, defined his criterion for deciding whether spending is worthwhile thusly: “Is the program so critical it’s worth borrowing from China to pay for it?” Big Bird famously didn’t meet that test. In the vice-presidential debate, Paul Ryan criticized subsidies for electric cars, and wondered “Was it a good idea to borrow all this money from countries like China and spend it on all these various different interest groups?” Democrats do it, too. Pollster Mark Mellman, writing in The Hill, described how he used the “borrowing from China” line in a recent poll.

Read Here – The Daily Beast

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