A Brave New America
Brenda Ann wrote:
I'm not sure it would hurt China at all. It's most likely a calculated bet
on their part: if we default, and they stop supplying us with cheap consumer
goods, we lose. We have no manufacturing base to replace them, and it would
take a sizable part of our GDP to rebuild them, along with likely a decade
or more, during which we would have to simply do without much of what we now
take for granted in our daily lives. China takes over the place we formerly
held as the world's leading economy.
If we ever pay off all the debt, China still wins, because they will have
all those trillions going directly into their economy.
"Outsourcing is GOOD for this country"
-- George W. Bush
Heck of a job, Georgie!
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