“we hold more of their assets hostage than they do of ours”
Nonsense.
China holds $1.3 trillion in US government debt.
Plus a sizeable portion of manufacturing for US tech companies...likely over 30%. And pharmaceuticals. And any number of other things.
A SUBSTANTIAL portion of US Capital Stock.
China holds at least 10X of US assets than the US holds of Chinese assets. Likely more.
But we are the market. And in that is enormous power. We can buy from somebody else, or make our own, and turn those assets into dust.
China loses if it sells US T-bills ... we’re the market. We’re the boss.
Everybody runs to the US Dollar.
“China holds $1.3 trillion in US government debt.”
So that means we have their money, right?
“Plus a sizeable portion of manufacturing for US tech companies...likely over 30%.”
They nationalize our stuff, we nationalize their stuff.
We don’t own stuff in China, largely, but they have lots of real estate and stuff here in the US. They can’t exactly just pick it up and take it home.
We ought to charge off the intellectual property they’ve been stealing for decades against the debt they hold and pay it to the companies and people they stole it from.
So, yes, we hold more of their assets hostage than they do of ours.
My grandfather, miss him, told me some 40 years ago the US needed to be more independent from other countries. As always, he was right.