but china needs us since we are a huge importer of their goods. without us, they couldn't survive. so they would still keep on exporting their goods here even if we did a little cooking of the books. i believe.
China have the rest of the world to export to, and are already in talks with the likes of Russia and India to replace the dollar for their international trade. If we deliberately default on our debts, you can guarantee the dollar is abandoned by everyone.
so if we can do something like that then there's nothing we can't do. including not paying our debts. and telling our creditors to stand in line.
Of course we can refuse to pay our debts. But you seem to think we just launch a new currency and nothing changes. Our economy would tank, our credit rating would tank, all foreign investment disappears, international trade is impossible, job losses in the millions. The country would be a mess for a
long time.
What if "the rest of the world" as you call it doesn't want the product of China with time? Just saying, but I don't like it when I see people thinking that China could just displace the US overnight. I am waiting for this though. China rose to this prominence because of the financial disparity of the world, they leveraged the poverty and suffering of many countries. They can do your product at a very low price regardless of the quality. Many countries embraced it and enrich a country that will one day become a HUGE problem to the world. 'You can mark my word on that.'
No matter what is happening to the US now, I believe they would overcome, this is not the first time they would be faced with economic and financial issues, they always bounce back greater. I will never forget the contribution of that great country to the world. We appreciate somewhat freedom now, they are partly to be appreciated for what they preach, their ideology and for ensuring stability in the world. Not to mention their contribution to the UN, and WHO among others, while China always take the backseat and even threaten to abandon the climate change agreement, to say the least. Is that a leader?
They are only leveraging on the desperation of Russia, and their deal with India is failing. They will always try with their currency dominance, but they will fail because it can't be done with a crook, you have to economically earn it, which is not about exportation only, not even with conspiracy as they are doing now. China will always be a threat to the world as far as I am concerned, only that people are still blind to it.
Don't worry, let the world continues, they will one day surely regret the evil they've nursed. China will not give you one thing and not expect to collect it back 10 times. It's evident in the deals they've brokered with some countries in Asia and Africa leveraging on their weakness and desperation.
