Value of American dollar under threat? China 'nuclear option'

[Mr-Fusion]

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/07/bcnchina107a.xml

Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (?658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.

Could China really cause the US dollar value (and economy) to collapse? IT looks that way.

Now, we're all aware of America and their constant unecessary penis waving into world affairs. Invading countries on lies, supporting terrorism, implanting ideals in countries that aren't compatible and experiencing massive rejection ETC ETC. Always trying to make sure they're the world superpower. "We'll invade you bitches whether you like it or not" attitude. America **** yeah. (If you feel your intelligence level has decreased by a factor of 5 by reading this, i am sorry)

Somewhat ironic that China could destroy the US economy without a bullet fired.

Your thoughts gentlemen?

 

[Tick]

The US economy won't collapse in the future all countrys will depend on each other.
All though Im sure you wish this would happen so you can make a thread about it.

 

[Mr-Fusion]

Maybe true. It would be the economic equivalent of MAD.

But boy...would that be funny.

 

[clarky003]

China has immense buying and selling influence yes, but the problem is somewhat more systemic than that. The value of currency is ultimately controlled by very few banking families who have large shares in the likes of the FED and the Bank of England, and the majority of banks around the world (all of which are private organisations), and it's their fractional reserve banking system that is the true basis of the devaluation of currencies, and our endorsement of it.

 

[phantomdesign]

The US is in a greater strategic position to destroy the Chinese economy if pressured. They get 95% their technology from either the US or the Japanese.

 

[Warbie]

The dollar is already worth less than the colourful bits of paper that comes with Monopoly :thumbs:

 

[sinkoman]

The US is in a greater strategic position to destroy the Chinese economy if pressured. They get 95% their technology from either the US or the Japanese.

But they also make 95% of that technology.

 

[MiccyNarc]

But they also make 95% of that technology.

...and sell it to us.

 

[Aki]

China is pretty dependent on us. Destroying us would send them crashing down as well. If our companies went under, they'd have alot of unemployed workers who'd be none too pleased that their wise and mighty leaders just pissed away their already meager cash flow.

Not smart.

 

[Ennui]

The only thing China could potentially do is help put this country back in it's place. I do not like the fact that my government seems to think it can do whatever the hell it wants "because it wants to". This country is like the parent that doesn't explain to the kid why it's telling them to go to bed, except saying "It's for your own good," "You'll understand someday," and "Because I said so."

 

[Sui]

This country is like the parent that doesn't explain to the kid why it's telling them to go to bed, except saying "It's for your own good," "You'll understand someday," and "Because I said so."

I can't believe Al Gore got cheated out of the presidency. It's only because of President Bush that the whole "Americans are stupid" stereotype is so common over here.