7 ms·
1 The prospect of a default will tend to align incentives across all debt-holders. 2 Of the foreign debt, Japan + China hold the lion’s share at about 40%, so
by cobbzilla 7y ago
1 The prospect of a default will tend to align incentives across all debt-holders.
2 Of the foreign debt, Japan + China hold the lion’s share at about 40%, so definitely worry if you ever see those two aligning against us. It will be important for the US not to piss off Japan.