Friday, February 18, 2011

Socialist free market China Flexed its Muscles Using US Treasuries

US ruling elites exported the whole industries to China and are investing there heavily, in order to gain quick and better profit. Profoundly wrong, betrayal policy, bankrupting America.

As the U.S. Federal Reserve grappled with the aftershocks of financial crisis, the Chinese, like many others, suffered huge losses from their investments in American financial firms — from Lehman Brothers to the Primary Reserve Fund, the money market fund that broke the buck.

America's trade deficit with the nation reached a record $273.1 billion in 2010.

In July 2009, China US Treasury holdings rose to a record $940 billion.

China Flexed its Muscles Using US Treasuries - CNBC
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