What are the implications of U.S. debt to China?

Posted by scapozzola on 02/24/2010

Tomorrow, the U.S.-China Economic and Security Commission (USCC) is holding a hearing on the implications of "U.S. debt to China."   While that may sound a bit technical, it may actually provide some fairly chilling data.  For example, in 2009 alone, the U.S. racked up $226 billion in trade debt with China.  The question is what China is doing with all that profit?  ManufactureThis will be sure to report any key findings of the hearing, but more information is pasted below. U.S.-China Economic and Security Review Commission: Hearing on “U.S. Debt to China: Implications and Repercussions” Thursday, February 25, 2010 Room 562 Dirksen Senate Office Building First Street and Constitution Avenue, NE Washington, DC 20510 -------------------------------------------------------------------------------- Hearing Co-Chairs: Commissioners Michael R. Wessel and Robin Cleveland 8:45 am – 9:00 am                      Commissioners’ Opening Statements 9:00 am – 10:30 am                    Panel I: China’s Lending Activities and U.S. Debt Mr. Clyde V. Prestowitz, President, Economic Strategy Institute, Washington, DC Dr. Simon Johnson, Professor of Global Economics and Management, Massachusetts Institute of Technology, Cambridge, MA 10:30 am – 12:00 pm                  Panel II: China’s Current Holdings of U.S. Debt and Other Securities and the Implications for American Businesses and the Economy Mr. Stanley Collender, Managing Director, Qorvis Communications, Washington, DC Mr. Leo Hindery, Jr., Managing Partner, InterMedia Partners VII LP, Washington, DC 12:00 pm – 1:00 pm                    Lunch Break 1:00 pm – 2:30 pm                     Panel III: Political, Diplomatic, and Security Implications of U.S. Debt to China Dr. Eswar Prasad, Nandlal P. Tolani Professor of Trade Policy, Cornell University, Ithica, NY, and Senior Fellow, Brookings Institution, Washington, DC Dr. Derek Scissors, Research Fellow, The Heritage Foundation, Washington, DC Dr. Daniel W. Drezner, Professor of International Politics, The Fletcher School, Tufts University, Medford, MA

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