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> They own the US's debt Currently the world leader in US debt holding is not china, but japan. > actually we need that trade to maintain our way of life Cur
by dnautics 6y ago
> They own the US's debt
Currently the world leader in US debt holding is not china, but japan.
> actually we need that trade to maintain our way of life
Currently the number 1 trading partner with the US is Mexico, not china. The US economy is overwhelmingly domestic, too with something like 10% via foreign trade. And china's labor costs no longer make it competitive in terms of "making the average us resident's prices low".
The place that will get screwed is europe, which DOES do a ton of trade with China, as we will see in the upcoming months with the closure of the suez (most us trade does not use the suez, only about 10% of oil from saudia arabia, and most us oil production has shifted to domestic, IIRC it's like 5% foreign or something like that)