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Politics : The US Deficit
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From: Tadsamillionaire10/7/2007 3:45:43 PM
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But will the Chinese see that they can pay there people more and sell to other countries when the U.S is the primary source of income.

But the world has changed in the three decades that have followed. What’s different now is that we have a situation where our three largest creditors - Japan, South Korea and China - also are our largest trading partners.

And one of those trading partners - China - is extremely displeased by the weakening dollar.

In fact, all three partners are so upset that they’ve been making some very public noises about diversifying away from the greenback, or - and this is a huge deal - even dumping some of the $1.3 trillion worth of dollar-denominated debt instruments they hold.

moneymorning.com
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