Since there is still no academic writing to be found for my article, I will be using a few of the news posts from my cracked sources. One of the more interesting articles I’ve found through the endless maze of links is one by Matt Phillips, titled “China vs. Japan. The Winner? The US“. It talks about how China and Japan are actually fighting it out to buy more of U.S. debt, because it keeps their currency value more reasonable. The thing is, in the end, the U.S. ultimately wins! This all leads back to China’s buying of U.S. debt a good thing, and not going to end with them basically owning us.
Another interesting article I found is from the New York Times. The article, “China’s Treasury Holdings Make U.S. Woes It’s Own“, written by David Barboza, talks about how, because of all the U.S. debt they have acquired, China is literally at the mercy of the government’s decisions about the economy. Overall, it almost seems to be the consensus of most news reporters on the subject of China’s debt holdings that the more debt that is bought by foreign countries, the better it is for us.