China’s Foreign Loans Reach $331 Billion
Submitted by Bill Belew on Monday, 30 July 2007No Comment
China's outstanding foreign loans have reached $331 Billion!!!
Holy smokes!
And, what? They have more than $1 trillion in foreign reserves.
Tell me, somebody, why aren't they paying up?
Somebody smarter than me, and that's nearly everyone over 10 years old can probably explain how a country, in this case China, can have such a
huge debt AND have such a huge reserve.
Why isn't China required to pay up?
And what difference would it make to the lenders if suddenly China did settle their accounts?
But, then how many lenders are enjoying the interest payments that China is paying on this huge debt?
As I said, I need help understanding this.
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