Economics
One of the Most Popular Doom Scenarios for the U.S. Economy Is Fizzling Out
If you're worried about China, you should be worried about it for the right reasons
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For years, politicians, gloomy newsletter writers, and even some economists have been warning that the U.S. is at the mercy of China, because China owns so much Treasury debt.
In 2010, a group called Citizens Against Government Waste made an infamous commercial called the Chinese Professor, in which a professor in Beijing in the year 2030 teaches his class about the demise of the U.S. because its government spent so much money and mortgaged the country's future to the Chinese.