There is an old saying in finance that if you owe the bank US$100, you have a problem. But if you owe the bank US$1 million, then it is the bank that has the problem.
Well, the US government owes China US$1.2 trillion (and probably a lot more). Even adjusting for inflation, that means it is China that has the problem, not the US.
It seems financial markets forgot this saying this week. A report on the Bloomberg news service that Beijing is looking to scale back, or even halt, its purchases of…
Source: SCMP – China