Re: And so begins the middle game
"How much US debt does China hold now? In terms of US GDP?"
Who cares? You cannot call in government paper, so the only thing they can do is sell it. There are plenty of buyers for small amounts of teasury notes, and you cannot shift large mounts of it for the precise reasons above, that you need to sell it and buy something else with it, as there's no such thing as pure money.
Biting the hand that feeds IT
