“Owe your banker £1,000 and you are at his mercy; owe him £1 million and the position is reversed.” – John Maynard Keynes
Glimrende og oplysende artikel på Forbes.com om USAs store udenlandsgæld, der hovedsageligt skyldes til Kina. Gældens astronomiske størrelse gør paradoksalt nok, at den i høj grad er beskyttet fra manipulation og spekulation – så længe gælden optages i amerikanske dollars. Men dermed betyder det ikke, at Kinas store indkøb af amerikanske gældsposter er gode for nogle af de to lande. Som artiklens forfatter, forfatteren og økonomen Bruce Bartlett, pointerer:
While I don’t worry too much about the Chinese using their Treasury holdings to bludgeon us into taking actions that are against our national interest, neither do I think the current trend is entirely healthy for both countries. The best solution would be for the Chinese to allow their currency to appreciate, which would go a long way toward redressing our trade imbalance, while we reduced our budget deficit enough to finance it domestically. Alternatively, we will have to be willing to accept broader Chinese ownership of private American assets–real estate, businesses and so on–which will certainly raise political tensions. It’s something both countries should seek to avoid.
Artiklen kommer rundt om væsentlige emner som Kinas statskontrollerede valutakurser, USA’s manipulerede handelsbalance med Kina, statsgældens indvirken på den sikkerhedspolitiske situation og The Founding Fathers uvilje mod statsunderskud. Den er bestemt værd at læse i sin helhed.
mycorporateblog by kristoffer holm pedersen 