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Nothing against China or it's people but if we keep building it up while it buys all our debt, this will end very very badly. It is really not clear to me how
by kfk 14y ago
Nothing against China or it's people but if we keep building it up while it buys all our debt, this will end very very badly.
It is really not clear to me how this ends badly for us. If China keeps buying our debt and we fail to pay back, who loses? It seems to me the buyer loses.
Of course, China will not keep borrowing stuff to us. If you just look at things like trains, I am pretty sure Chinese will mostly source them from western companies (siemens, bombardier, ansaldo, etc.).
- new299 14y agoComing for the UK my worry is that you lose almost all manufacturing capability and shift to financial/services industries. Short term that probably works out really well financially, long term... possibly not so much. In the UK, I find it a real effort to find anything made in the the UK on the high street (and few things even designed in the UK, ARM processors probably being the exception). Debt is one thing, the loss of manufacturing/and engineering capability I find more worrying.