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.
China
china
US foreign debt is now over 4.5 trillion dollars a year. China holds a majority of the US foreign debt.
no, we just do business. we are in major debt to them
2 trillion dollars
italy, monaco, or china
yess
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)
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.
They are one of the primary holders of the US debt. So in a sense, they are leading the United States in fiscal responsibility.
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.
No it is not. It has an estimated external debt ( the total public and private debt owed to nonresidents of the country) is just above 347 Billion USD, but this is relatively small for such a large economy ( The US has a debt of 14 Trillion USD, while most western European countries have amount between 1 to 10 trillion). So as you can infer, while the People's Republic of China is not entirely debt free, it's debt is far less than that of other major economies.