Capitalism is better than Communism. So why is the US in debt over a trillion dollars to Communist China?

Question

And its capitalism that has put the US in debt--the competition to lower costs has driven US retailers to buy from the Communist system. Does this large debt concern you? Do you think it represents a problem for the US? And if so, do you have any suggestions for getting out of debt to the Communists?

Answer 1

I think primarily to finance the "war" in Iraq, which will also help China because China can afford to align itself with Middle Eastern countries as a non-participant in the war, and therefore strike deals for oil with countries that are non-aligned with the U.S.

Did you know that the "war" in Iraq costs Americans $195 million PER DAY? With that money, in just one day, we could:

> Provide 3.97 million households with an emergency readiness kit.

> Close the financing gap for interoperable communications in 41 small cities, 36 mid-sized cities, or 6 large cities so that federal, state and local first responders can talk to one another during an emergency.

> Purchase 780 fire trucks for improving local emergency response capabilities.

> Employ 4,919 fire fighters, 4,222 police patrol officers, or 7,052 paramedics and emergency medical technicians for one year each.

> Double the federal budget for nuclear reactor safety and security inspections to ensure that these potential terrorist targets are adequately protected.

> Pay for 1,101 additional border patrol agents to better guard our borders against potential terrorists.

> Provide 9,750 port container inspection units to detect hazardous materials being trafficked into the country.

> Provide 1,332 explosive trace detection portals for airport screening of passengers, as recommended by the 9/11 Commission.

> Provide 6,290 local law enforcement agencies a bomb-detecting robot.

> Provide 4,875 narcotics vapor and particle detectors.

Answer 2

If Americans, and Europeans lay a traiff on China we will destory the damage the economy. 1000 economists from right to left reject the traiff on China, and its kneejerk reaction to raise duties on China for rigging the game, but to react back with traiffs will start a trade war, and result in the world wide recession. Remember the Smoot and Hartley act of 1932, and Graham, and Schiermer or how his named spelled, should reject protectism because it could create economic on both sides that would desvastive the purchasing of lower class the most. Communist system never works, and look at the last days of the USSR they had bread lines out the door, and stores were empty of meat, milk, butter all the time. The debt the Untied States is because of soceity materalistic need for more, and society gotta decide not to be in debt, and then the goverment will finally reflect that.

Answer 3

I am concerned about this debt, I dont know of anyway to resolve a trillion in debt. hell, I struggle with MY debt every month.

China is a crafty and wise country, in that they plant seeds with no intention of sowing them until the time is just right, and I suspect this debt is one of them. However, this debt is also a burden to China, not only a bonus. It represents capital they dont have in hand, and we do have the goods. Thats a huge chunk of red ink on their books and a huge black on on ours.

I do think it presents a trump card for China if they were ever to decide to act upon it by demand.

Answer 4

We are in debt over our head because we are giving away money to prop up friendly and not so friendly foreign governments, domestic corporations and individuals that do not contribute anything to society other than adding to the population.

Imagine if a person went to a bank and told them "we need more money because we gave all of our money away". They would be ridiculed and thrown out.

Our own infrastructure is in decay from underfunding.
Our bridges and roads are crumbling.

I'm sorry we just can't afford to run our country like this.
It may be a tough pill for some to swallow but we need to reevaluate our priorities.

We need to quit throwing money at foreign governments, corporations as well as people and cut spending across the board including ending major money pits involving the enforcement of victimless drug crime and quit incarcerating non-violent offenders.

This way we can clear out our overcrowded prisons and we can at least afford to keep real criminals and predators such as child molesters and rapists behind bars.

Answer 5

People's Republic of China holds the most US debt which is over $1.2 trillion in total foreign reserves in the first quarter of this year. Of which about $420.2 billion are U.S. Treasury securities. They're not really debts, they are investments. "debt" is just a technical word here. I'm an economics student, so I kinda get what it means.

Answer 6

Do I have "any suggestions for getting out of debt to the Communists?" I can't even picture what a trillion dollars may look like.
Discuss it with Bush, he knows how to throw money around.

Answer 7

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Answer 8

I am in China right now, been here for 6 months. It is not communist. On paper yes but here it is Capitalist, unbridled Capitalism.

I perfer North American Capitalism to this. At least there they don't try to sell their own daughters for sex on the street

Answer 9

I think you are incorrect because I believe uncontrolled capitalism is as bad if not worse than communism. They are both bad even in their milder forms. Does it matter who you borrow money from? It is still money.
I think if you went to China you would find capitalism alive and well, with many millionaires and a lot of people doing very well.

Answer 10

There is actually very little about China that is truly 'communist' other than a few positions held by their government. China is as much a nation of capitalists as the USA.

And thats a fact.