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Biden told Xi after Putin meeting: Be careful, your economy depends on Western investment (www.reuters.com)

submitted 1 year ago by sam_uk@lemmy.world to c/world@lemmy.world

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U.S. President Joe Biden told Chinese President Xi Jinping following his meeting with Russia's Vladimir Putin to "be careful" because Beijing relies on Western investment.

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[-] jcb2016@lemmy.world -2 points 1 year ago

Is Biden that dumb? China holds all our debt! 😬😬

[-] root_beer@kbin.social 1 points 1 year ago

I thought I’d read something recently that China is in danger of defaulting on like a trillion dollars of debt, to a bunch of US bondholders. Dunno what that means here, but

[-] jcb2016@lemmy.world 1 points 1 year ago

Didn’t know that. Wow everyone and everything we know is so backwards!

[-] st0v@lemmy.zip 1 points 1 year ago

The former Chinese government (now kmt in taiwan) took a loan like 80 years ago. after the war, the PRC and the USA both just kinda assumed China wasn't ever going to pay.

For a while there USA maintained that the KMT was the government in exile, but with normalization with the PRC, that all kinda got swept under the carpet.

The US debt held by China today, is the same as other countries are holding. People need to believe this will be one day repaid and profitable.

this post was submitted on 08 Jul 2023

262 points (97.8% liked)

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