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PegnVA

10/18/06 2:55 PM

#214661 RE: extelecom #214660

Council on Foreign Relations has an interesting site.
Check out their article by Brad Setser, HOW SCARY IS THE DEFICIT? In part Setser writes...China is currently the biggest buyer of United States debt.

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seabass

10/18/06 4:01 PM

#214685 RE: extelecom #214660

>>>Peg, Do you have a link showing we borrowed money from China?<<<


"The U.S. budget deficit is financed by borrowing. More and more of that money comes from China, now the United States' second-largest lender, after Japan. China's investment in U.S. government debt has more than tripled in the past five years, from $71 billion in 2000 to $242 billion in 2005."

http://www.theatlantic.com/doc/prem/200510u/nj_schneider_2005-10-25