as if they are in a role to make demands now lmao
Imagine thinking that China is not in a position to make demands. 😂
Imagine China can takeover the world. Yeah one can dream. We have a Putin already. 🤣 🤣
China is already the main trading partner for most countries in the world, and a bigger economy than US in terms of PPP. The only one who seems to be inhabiting the dream realm here is you.
As if our dear Uncle Sam does not trade 😭😭 Oh yeah by PPP Indian economy is larger than that of Japan and Germany combined too. Hurray India is an advanced economy now. Give the per capita figure a look and wake up.
You keep on laughing while you can there. Soon even the most propagandized elements of society are going to be forced to engage with reality. Then the rest of us will laugh. 😂
I guess you missed the news story about China defaulting on $1 trillion in US debt?
@ruck_feddit @yogthos doest the U.S. owe china almost a trillion as well?
China has been stealing technology and design for decades and got sanctioned. That’s what happens.
Demand all you want, but nobody’s going to trust you enough to deal as long as you keep advocating for corporate espionage against “trade partners.”
Conducting a cultural genocide isn’t helping, of course, but really even just the theft of data and technology is enough.
Considering the US built itself on a foundation of corporate espionage… Well, duh? Everyone does it, including American companies on other American companies. If your technology lags behind others, corporate espionage is the easiest way forwards. Globalization was supposed to slow down corporate espionage by making the technology more easily available (as evidenced by the relatively mundane technology that gets stolen today), but that’s unraveling.
Corporate espionage is reason for sanctioning companies, not countries. If your IP is necessary for national security, it should be owned by the government and protected as such. Otherwise, I have no sympathy for private profit-driven companies losing their competitive advantage because of decades of underfunding on their cyber security systems.
This bit in particular sums up why US is in a panic right now
“Finding buyers for US debt is the top mission of Yellen. From a medium-and-long-term perspective, China is disposing of US debt,” it says. “Who else will buy it? Japan is the biggest creditor of the US but cannot buy more. The United Kingdom is facing an economic recession and sold $30 billion of US debt in April.”
China holds <$1T of US debt. Sure, they’re the second largest foreign holder of US public debt, but we could easily replace that debt if needed. The Treasury itself bought much more than that after the 2008 crisis, and we could do it again. Private citizens hold way more than China does through mutual funds and whatnot, and investors would buy more if rates go up.
The real problem is that interest rates for public debt is going up, so we’ll end up paying a lot later share of our budget toward interest if we don’t reduce our debt load. Those older, cheap Treasuries will be maturing over the next decades, so the time to act is now. I’m in favor of raising taxes somewhat and cutting spending across the board (I think a lot of it is waste that could be caught in audits). But China doesn’t factor in at all when it comes to debt concerns.
Thing is that as US will be issuing more bonds there’s going to be little market for them. Back when 2008 crash happened, the only reason US pulled through was cause China stepped in to buy enough bonds to stabilize US market. Fat chance of that happening this time around.
Meanwhile, demand for dollar globally is dropping meaning that dollar based economy is starting to shrink. And major US allies are starting to have significant economic problems of their own, which means they’re not able to bail US out.
China doesn’t have the luxury of letting the US economy tank. If that were to happen there’s not enough demand around to keep enough of their factories working to avoid their economy from tanking as well.
About 16% of China’s exports in 2022 were to the USA. It would certainly be a significant hit, but to suggest there would no longer be adequate demand is unlikely to be true.
For example, Russian oil exports lost a lot of their direct importers, yet demand has not dropped significantly or in a way that is harmful for them. The volume of their exports has remained relatively constant, but the fraction of the total that different importing countries represent has changed. Even the price dip recovered.
