[Toddsterpatriot]

And yet they produce more super conductors then we do, more televisions, etc. Yet they are our creditor and we are the debt ridden begger on the knees praying they don't dump and devalue our currency.

We have a $12 trillion economy.They have a $1.5 trillion economy and exported less than $200 billion to us in 2004. You have a strange definition of debt ridden beggar.

[Paul Ross]

We have a $12 trillion economy.They have a $1.5 trillion economy and exported less than $200 billion to us in 2004. You have a strange definition of debt ridden beggar.

No he doesn't. Check this:

Actually, China could already be the world's third largest economy when based on more realistic purchasing price equivalents. Some international groups (including the International Monetary Fund), and number of U.S. financial analysts too, think that the Yuan is undervalued by a factor of four. If so, the implications of this are significant. It implies that the size of China's economy is really $6 trillion, rather than $1.5 trillion. It helps explain why they hold $620 billion of U.S. paper. So does your postulate really have any credible legs anymore? No.

[jb6]

Yeah, I guess you missed the part about the government having to borrow $2.5 BILLION DAILY, 80% of which comes from foreign sources: primarly Japan and China. Meanwhile, we exported $40 billion to China.

CIA World Fact Book:

USA: GDP: purchasing power parity - $11.75 trillion (2004 est.)

Public debt: 65% of GDP (2004 est.)

Budget:
revenues: $1.862 trillion
expenditures: $2.338 trillion, including capital expenditures of NA (2004 est.)

Current account balance: $-646.5 billion (2004 est.)

Debt - external: $1.4 trillion (2001 est.)

CHINA:

GDP: purchasing power parity - $7.262 trillion (2004 est.)

Public debt: 31.4% of GDP (2004 est.)

Current account balance: $30.32 billion (2004 est.)

Debt - external: $233.3 billion (3rd quarter 2004 est.)

Budget:
revenues: $317.9 billion
expenditures: $348.9 billion, including capital expenditures of NA (2004 est.)