Nadene Goldfoot
China has a population of 1,439,323,776 people or 1.44 billion.
USA has a population of 329,877,505 or 330 million people.
China has a billion and another 100 thousand more people than we do.
The USA owes $1.1 trillion to China that we have borrowed.
We're in the red. The budget deficit will reach a record $3.3 trillion (16 percent of GDP) in Fiscal Year (FY) 2020 and total $13 trillion (5 percent of GDP) over the subsequent decade. The deficit will total $1.6 trillion (5.3 percent of GDP) in 2030 alone.
China owns about $1.1 trillion in U.S. debt, or a bit more than the amount Japan owns. Whether you're an American retiree or a Chinese bank, American debt is considered a sound investment. The Chinese yuan, like the currencies of many nations, is tied to the U.S. dollar.
The U.S. debt to China was $1.07 trillion in July 2020. That's more than 15% of the $7 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $27 trillion national debt is owned by either the American people or by the U.S. government itself. China has the second-greatest amount of U.S. debt held by a foreign country. In July 2020, Japan topped the list, owning $1.29 trillion.
China is communist country and the USA is a Democratic country. Since 2001 under the Bush and Obama administrations, the USA did not keep up building a military that could challenge Communist China's aggression in the Pacific. We actually did not continue supplying a modern navy we had developed to fight in WWII. We stopped the construction of military installations on islands in the South China Sea and acquiesced in the export of much of the US manufacturing base to China and elsewhere.
However, Since 2001, the base defense budget has soared from $287 billion to $530 billion — and that's before accounting for the primary costs of the Iraq and Afghanistan wars.Jan 7, 2013
The budget of the U.S. Navy and the U.S. Marine Corps from fiscal years 2001 to 2021 shows that in 2001 the budget was for 12.6 billion US dollars. By 2009 it was for 34.32 billion.
In the fiscal year of 2021, the U.S. Navy has a budget of about 161.04 billion U.S. dollars, while the U.S. Marine Corps has about 46.04 billion U.S. dollars at their disposal, cut down from 2020's 47.47 billion.
The annual debate over China’s trading status within the United States was ended when President Clinton decided to grant China permanent Normal Trade Relations (NTR, formerly MFN). Trump has entered into an escalating trade war with China, applying tarrifs on hundreds of billions of dollars worth of Chinese goods in several stages, drawing Chinese retaliation. High-level trade talks, including directly between Trump and Chinese President Xi Jinping, have been ongoing. Trump has felt that China took advantage of the US and had been stealing plans and ideas.
- "COVID 19 virus began spreading in Wuhan in the fall of 2019 when the Chinese government closed down flights from Wuhan to the rest of China. At the same time, it allowed flights from Wuhan to continue to go to Europe and to the US." 430,000 people have traveled from US to China since coronavirus surfaced in 2020. "On Friday, January 31, President Trump signed a proclamation suspending entry into the United States of aliens who were physically present in the People’s Republic of China, excluding the Special Administrative Regions of Hong Kong and Macau, within the 14 days preceding entry or attempted entry into the United States. The proclamation took effect Sunday, February 2. This action followed the declaration of a public health emergency in the United States related to the novel coronavirus outbreak in Wuhan, China".
- There were 1,300 direct flights to 17 cities before President Trump’s travel restrictions made on January 31, 2020. Since then, nearly 40,000 Americans and other authorized travelers have made the trip, some this past week and many with spotty screening.
- April 30, 2020-WASHINGTON—The U.S. intelligence community publicly confirmed it is trying to determine whether the coronavirus may have escaped from a laboratory in Wuhan, the city where the pandemic began.
- In an unusual public statement, the Office of the Director of National Intelligence, or ODNI, also said that U.S. intelligence agencies concur with the broad scientific consensus that “the Covid-19 virus was not manmade or genetically modified.” But, China's ambassador to the United Nations said Wednesday that the country's government would not allow the international community to investigate the source of the novel coronavirus until after a "final victory" against the disease.
In the 70's my husband worked with a fellow from China who had to leave his wife and child there before he was allowed to leave China. Chinese have had to adhere to their law of having only one child, and most hope for boy. They have been living under restrictions for a long time. In 2019, my niece went to China with a friend and both got jobs teaching English. Her contract wasn't renewed but her friends was as he had the right educational background. They spent their weekends being tourists and seeing the country, which turned out to be picture-post card beautiful. Another friend of mine was traveling to China buying and selling items several years ago.Whatever China has been doing, they had some wonderful sites to see.
We have many bones to pick over with China covering finances, trade, and human rights. "To be sure, the Chinese government and Communist Party are not today’s only threats to human rights, as the Human Rights Watch World Report shows. In many armed conflicts, such as in Syria and Yemen, warring parties blatantly disregard the international rules designed to spare civilians the hazards of war, from the ban on chemical weapons to the prohibition against bombing hospitals". There are hot spots in many places that a government has to deal with. One has to be like an octopus with many people in charge of all the problems.
Resource:
https://www.investopedia.com/articles/investing/080615/china-owns-us-debt-how-much.asp#:~:text=China%20owns%20about%20%241.1%20trillion,tied%20to%20the%20U.S.%20dollar.
https://www.thebalance.com/u-s-debt-to-china-how-much-does-it-own-3306355
https://www.nytimes.com/2020/04/04/us/coronavirus-china-travel-restrictions.html
Imprints, Hillsdale College in Missouri, HILLSDALE.EDU., Brian T. Kennedy
https://www.factcheck.org/2020/03/the-facts-on-trumps-travel-restrictions/
https://www.wsj.com/articles/u-s-intelligence-agencies-say-coronavirus-originated-in-china-wasnt-man-madeor-genetically-modified-11588260228
https://thehill.com/policy/international/496340-china-wont-allow-access-to-investigate-source-of-coronavirus-until-final
https://history.state.gov/countries/issues/china-us-relations
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