U.S. Economic Woes Loom Over Biden Visit to China

Source: The New York Times

WASHINGTON — Over the winter, officials in China and the United States were trying to turn a new page in relations. In January, during a state visit to Washington by President Hu Jintao, leaders worked hard to dispel the rancor that had been slowly building. Soon after, Vice President Joseph R. Biden Jr. committed to an earlier proposal to meet this summer with his Chinese counterpart, Xi Jinping, who is expected to succeed Mr. Hu next year.

But as Mr. Biden prepares to depart for China on Tuesday, a new uncertainty looms over relations.

Chinese leaders are facing profound questions about the strength of the American economy and American leadership, because of the government’s struggle to meet its debt obligations and the partisan schisms and political paralysis that turned a problem into a crisis. Mr. Biden postponed his original departure date in July to help hammer out the agreement that forestalled default on some obligations but failed to avert a downgrade of America’s AAA credit rating by Standard & Poor’s. Xinhua, the state news agency, published a commentary demanding that the United States “cure its addiction to debts” and “live within its means.”

The uncertainty about America goes straight to China’s pockets: it holds more than $1.1 trillion in United States Treasury securities, making it the country’s largest foreign creditor. Some ordinary Chinese have publicly criticized the Chinese leadership for investing so much in American government securities.

Read more: http://www.nytimes.com/2011/08/14/world/asia/14china.html

and keep their Ponzi scheme/ profit skimming going.

Remember when China forced down our spy plane over Hainon Island? http://en.wikipedia.org/wiki/Hainan_Island_incident


They disassembled it, back-engineered all the technology and returned it to us as a heap of parts.

China is not our friend. Corporations that move there should STAY there.. and none of their goods should be allowed into this country. (jmho)

and we have lost a lot of bets, eventually they will demand that we do things that are not in this country's best interest...but our worthless politicians don't give a shit, because they have stashed enough money to live comfortably until they die...:nuke: :nuke: