China Ups U.S. Debt to $1.16 Trillion

China Daily

By Zhang Yuwei — March 15, 2012

“We got to know who has all the cards in this relationship. It is not the U.S., because China is the biggest creditor and we are the debtor,” Peter Schiff, CEO and chief global strategist of Euro Pacific Capital Inc, said after a televised debate on China and the US economy hosted by Intelligence Squared in New York.

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