rayloke2009blogspot: China: Debt Crisis Could Be Turning Point for US-China Power Shift - CNBC

Monday, August 15, 2011

China: Debt Crisis Could Be Turning Point for US-China Power Shift - CNBC

China: Debt Crisis Could Be Turning Point for US-China Power Shift - CNBC

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RAYLOKEAugust 15, 2011 at 6:13 AM
"All these powers rely on buying each others' goods," said Stanley. "The U.S. needs free trade with China because it will become a new marketplace for U.S. goods."

China is usurping the U.S. as the biggest consumer of many commodities, as construction and infrastructure investment booms. As it has become less isolated from the world, it has correspondingly become more reliant on other countries.

China's Own Problems

"China has its own problems, including concerns over U.S. debt," said Lee.
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