Quote:
Originally Posted by Twistys Tim
The Chinese are dependent on Western civilizations. A tiny percentage of the Chinese population has managed to crawl it's way into the 21st century. An hour outside of Shanghai the countryside and the way of life is more reminiscent of 1909, than 2009.
The American system cannot collapse, as it is the foundation that holds the whole house of cards up. If America gets into hot water, it just prints more money, and the Chinese have to buy it -- if they do not buy, then the ship they are on sinks (and there are no life boats).
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Do you have the slightest clue as to the amount of $ China has in stockpile? If they chose to simply change the currency US wold be in deep. Of course they cannot since the countries are interconnected in the larger scale of things. But China is rising fast: not only do they have better higher education and insanely hard-working people but look around your own place and tell me just how many appliances are made in the US or from US components.
As for the money-print, do you know $ are Lent to US by the National Bank with interest? That means for each dollar US has to pay just enough to accumulate a huge debt...to it's own NB
But you're right, it won't fall. At least not as long as the $ has monopoly over worldwide transactions. The dept is also null because of this.