U.S., China urged to bridge 'tectonic rift' as treasury chief meets with Chinese counterpart

U.S. Treasury Secretary Janet Yellen met with her Chinese counterpart on Wednesday in Switzerland. CBS News anchors Lana Zak and Errol Barnett spoke with Amy Celico, a principal with the foreign policy firm Albright Stonebridge Group, about the state of U.S.-Chinese relations.

#china #davos #news

[SW-fypq]

US: "Buy my bonds."
China: "NO"

[thegreatone]

China needs to sell its US debts before US default on them or freeze them due to politics. 😂

[harisoepangkat]

Yellen asked Liu He not to continue selling off US Treasury bonds to save the US finance.

[johnfeng]

Cooperation between USA and China always results in win-win.

[devildevil]

It shows USA can't survive without China and Caucasian men can't live without the beautiful Chinese women 😂😂😂

[stringmonkey]

Yellen shouldn't be pushing the great reset.

[Jojo-ojuz]

Blame Henry Kissinger to create a monster that doesn’t have human values.

[injwikc]

Need to stop cutting women anchors Hair..ugghh...leave them alone ..let it grow..a bit...😊

[farhanabdulhamid]

TNX GOOD brother and sister TNX GOOD Family First good China good invest okay TNX GOOD

[asw]

Chinese debt right now stands at $51.9 trillion, 3 times the size of its GDP. The burden relative to the US was more than 40% greater, this was from last year. And this information is from Chinese backed research institutes. But what is even more difficult and worrisome is the outlook due to the issues that lay ahead for the Chinese, some of which are existential.

China is the fastest aging, not even aging it already is there, but for lack of better words, they have serious hurdles that have no quick fix. It's a generational, maybe even two problems. Not just that, but people compare US and Chinese, among other countries, GDP and at one time believed China would become the largest economy. But what is never said is what their GDP per capita is, China $12, 000 vs the US $70, 000. The world is moving past China, these numbers are from a time when China had most of the world's manufacturing industries. TONS of outside investment, not just financially, but intellectually. China had access to a great deal of many things, did not have to spend their own money to do research and development for many things, which is the most expensive difficult part of developing new tech.

It's not that the Chinese isn't capable of doing these things, we are all the same human beings, but they didn't build their economy this way. And unfortunately, a lot of intellectual property was stolen or reverse engineered, but that's not the same as engineering it yourself. For example, China is still heavily reliant on Russian aircraft engines, however, due to the great difficulty of reverse engineering advanced turbofan engines. This is just one thing...they have been trying to build their own for 40 years now and still are heavily dependent on Russia...to this day. This is something the West has mastered since the 1940s. Nearly all the superiority engines and other tech in their military is derived from Russian engineering...mostly from Soviet times. This isn't meant to crap on China, but it's just the truth. The UN forecasts that China’s population will decline from 1.426 billion this year to 1.313 billion by 2050 and below 800 million by 2100, estimated at between 350-450 billion. The US will become the most populous country in the world by then. But it's not as much about numbers as it is about diversity, race, age, gender and what they will bring to the economies in the countries they live in. The US sits by far...by far in a much better place than China, even the UK and all of EU etc, which have their own demographic problems that are going to affect their economic stability. China has admitted they may have overestimated their population by as much as 100 million, these would be births since the one child policy. This would be most of the population who would be having babies and such, careers etc right now. The demographics for China are very worrisome, the overall picture is they're in full collapse. This will play out over the next 20–80 years, but its looking like it may be much sooner and much worse as globalization is on the decline. What happens to China, and it's population etc when all these businesses don't build in China. China also has a natural resources and food difficulties in the coming years if it cannot take from outside its borders. There is a tremendous middle class now, the cheap labor of the past is changing.

This isn't conspiracy talk, this is all rooted in numbers. The only thing that could maybe help prevent some of this over the next 100 years is for China to open itself up to the world and more or less become a melting pot. And build a country that the world sees as dependable. But it's prob not possible for 2 US to exist on this planet. Chinese growth was under the umbrella of the world order maintained by the US. China needed the West to buy, you can't replace the west as a customer base. That's also a factor when it comes to China on the world stage. It took this world order and selling to the whole world, etc, for China to become what it is today. That world order and those customers are not replaceable. China inherently cannot become what it wants to become because it would mean that the legs it stands on would be gone. What made the US and current world order what it it was the conspiring of many events in human history, part of which was the colonization of the Americas. There's no repeating these things. Every country will become more dependent on it's internal economic capacities, we will still all be linked but not lie the last 90 years post WW2.

Btw, China holds about 900 some billion of US Debt, less than 13%. And it was shrinking last year as it was over a trillion before.