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Actually the US owes about one trillion and half dollars to china out of the sixteen trillion of the total debt.
It can quite be impossible for the united states to pay this in one payment but it can be paid in a payment plan.
For example if the US goverment paid 35 billion dollars a year to china it will take about 30 years to pay it off.
Now if the US goverment paid 75 billion dollars a year to china it will take about 25 years to pay it off.
Now in order to pay off this debt the US goverment must make some cuts somewhere to pay for this and not borrow anymore.....
Lets see..
The US goverment spends about 37 billion dollars in foreign aid and military asistance.
If we cut this forms of aid we now have 37 billion dollars to pay now we need 38 billion more...
If the US goverment took a billion dollars from other programs like 5 billion on army, and 5 billion from foodstamps and some here and some there etc. the goverment would have enough money to pay back the debt it owes to china and most importantly it didnt have to borrow.
Wiki User
∙ 10y ago
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Who is the owner of US debt?
China
Who owns the US national debt?
china
How much is US foreign debt?
US foreign debt is now over 4.5 trillion dollars a year. China holds a majority of the US foreign debt.
Does China like the us?
no, we just do business. we are in major debt to them
Which country is the biggest holder of debt in the us?
italy, monaco, or china
How much debt does the US owe china?
2 trillion dollars
Is the money owed for the trade deficit with China a separate amount from US debt purchased by china?
yess
Did the US sign over US Public lands for collateral to China?
No. What China buys US debt in exchange for both US Bonds and US Dollar currency. They use the latter to create a fixed RMB to USD peg and the former is the debt that they continue to hold.
How did the economic system impacted china?
We mostly owe China our debt. So if we don't pay soon, they will take over US trade with Australia causing us to loose even more money. (also, China's military is expanding vigorously)
Why is China considered a leader in world economics?
They are one of the primary holders of the US debt. So in a sense, they are leading the United States in fiscal responsibility.
Is the US richer than China?
No, China is richer than the US because China has a much better economy.
Why do we owe china so much money?
Because the US spends far more each year than it takes in. That is called the deficit. Every year that we have a deficit, we need to borrow money to make up the difference. That is called the debt. Much of that loaned money comes from China, or the debt was assigned to China by whoever the US borrowed from. Since we're living on borrowed money, we have to owe someone. China is one of those someones.
