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But they can take their army to a delicate border - say with Pakistan, India, and at the straight, and if they ask North Korea nicely maybe they will be able to

But they can take their army to a delicate border - say with Pakistan, India, and at the straight, and if they ask North Korea nicely maybe they will be able to get to the SK border, and ask for their money back with the PLA standing by. A holder of government debt can have much sharper knives than a loan shark.

dragonwriter 11y ago
> A holder of government debt can have much sharper knives than a loan shark. Actually, the difference you point to is really with a government holder of debt (regardless of whether the debt is government debt), not with a holder of government debt.
vkou 11y ago
Confusion between a government holding debt, and a holder of government debt notwithstanding, a state actor can also hijack an airplane and ask for a billion dollars, or they will kill a hostage every 30 minutes. Or, they can threaten to nuke South Korea if you don't send them food. As it's not ran by people with the financial and diplomatic acumen of either the Tea Party, or the Kim family, China's not likely to do either.