The gutter press of global capitalism shows a paucity of knowledge that is simply staggering. Perhaps the journalist also reported that the US was about to cease trading with China beacuse of Gramm Schuman. China does not yet have itsown government debt mrket repository for this "funny money" or a means of storing pension assets. Where would it transfer the money. China can diversify its assets simply by sterlising its trade surplus in other countries or seeking to penetrate other export markets and retaining "reserves" elsewhere. Its annual trade surplus of US$250 billion can achieve 50% diversification in just 3 years or so. Better for the journalist to concentrate on how the Chinese government is lifting livign standards ... More »

This possibility has been made a stronger possibility as a result of an invasion and occupation financed on a credit card to China while cutting taxes on the rich and exporting all the jobs the corporations want to export. Brace yourslelf, if it happens it will not be pretty. Bush came up with a dry hole again.

The article is well written and brings to the table news that has come from no other source. This may just be banging the drum so to speak, but it does give the USA a warning of the position in which we find ourselves, and that is , controlled by Cgh8na.

On the world stage, this is very high drama. Let the economists and bankers hash out how serious this threat is - but regardless this shows one aspect of the risk the US government has assumed by becoming the world's largest debtor nation and having so much of its debt held by one entity - China. Like it or not, China has a major role in our nation's economic health and we dig deeper and deeper every day the national debt grows.

For years, those in the know have worried that China has been positioning itself to control the US economy by buying our debt. This story presents clear evidence that they were right and that China is not hesitant to use the massive stake they now hold in our country. We are in deep trouble and part of that trouble is that only the foreign press has the guts to point it out.

Very nice concise article that paints the big picture with few words. Accurately depicts the possible outcome of living beyond your means, the way the US has done for years on end. Every time someone buys an item at Walmart on their credit card, China becomes more powerful.

Decent story, needs context. Specifically (for us fat stupid Americans ;) ), how would a dollar collapse change our lives?

American media are actually tightly controlled–witness the runup to Iraq. Many people–especially those traveling extensively outside the U.S.–are of the opinion that foreign media are more open than domestic media. If this article is accurate and China carries out its threat, it may well be the straw that starts the downfall of the fragile house of cards that is the American economy. It will be interesting to see where this story leads.

Many have long suspected there would eventually be a Chinese push-back to U.S. efforts to get the Yuan revalued, but the Telegraph's piece suggests that has actually started. If so, and readers are not getting the story from major U.S. and European papers and other media, this piece should be considered a trail-blazing economic story. It is unthinkable that the potential for a world-wide economic meltdown is not being covered by major media. One would expect journalists in Asia, Europe and the United States to have uncovered such a story nearly simultaenously. For one paper to have scored a clear "beat" on the rest of the media would be highly unusual. Either this story has no or little basis, which seems unlikely, or the ... More »