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As of October, US debt to China is 1.13 trillion. Total US debt is 21 trillion - most of that held by the US government itself or US citizens. (Foreign debt hol
by cthalupa 8y ago
As of October, US debt to China is 1.13 trillion. Total US debt is 21 trillion - most of that held by the US government itself or US citizens. (Foreign debt holders only total 3.9 trillion of that 21 trillion total)
The municipal debt being referred to is estimated to be ~6 trillion.
Neither are particularly meaningful at current. The fear with the Chinese municipal debt is that it's being used to subsidize growth in a way that will flame out and cause their economy to slow. And both countries have more to lose trying to strong arm each other over the US debt than they stand to gain from using it as political leverage.