America's mega and ever growing debt crisis.
I watched the movie "Too Big To fail" and also found this part repeated in Hank Paulson's memior.
"Refusing Russia’s Proposal to Crash the U.S. Economy: In his memoir, On the Brink, Paulson revealed that during the 2008 Beijing Olympics, Russian officials approached China with a plan to jointly dump their holdings of Fannie Mae and Freddie Mac bonds. This "fire sale" was intended to collapse the U.S. financial system. China declined the offer, which Paulson credited as a crucial step in preventing a total market meltdown."
Donald Trump and the rest of America must be reminded that China had the power to bankrupt the US in 2008 but declined to help Russia do so. Perhaps China is regretting noy doing so then? Guess what? The US debt has grown even much more bigger than it was then. And under Trump, the US$ is now at historical low.
China has another shot now. They stil hold a huge amount of US treasury bonds.
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