China as the world’s creditor and the United States as the world's debtor : implications for Sino-American relations
Document Type
Journal article
Source Publication
China Perspectives
Publication Date
4-1-2010
Volume
2010
Issue
4
First Page
100
Last Page
116
Publisher
Centre d'Etudes Francais sur la Chine Contemporaine
Abstract
China is now the world’s leading creditor nation, while the United States is the world’s largest debtor. Beijing is the largest foreign holder of US government debt – passing Japan in 2008 to become, in effect, the US government’s largest foreign creditor. While some claim this gives Beijing unprecedented power over the United States, others claim that China’s power is in fact greatly circumscribed. This paper shows that although current patterns of economic interdependence between the two economies invariably pushes each towards cooperation, China is deeply concerned about the future trajectory of the US economy and is already engaged in loosening the bonds of interdependence. This has profound implications for Sino-US relations and the global economy.
Print ISSN
20703449
E-ISSN
19964617
Publisher Statement
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Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Sharma, S. D. (2010). China as the world’s creditor and the United States as the world's debtor: Implications for Sino-American relations. China Perspectives, 2010(4), 100-116. Retrieved from https://chinaperspectives.revues.org/5346?file=1