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| China GDP per capita is one-eighth of the US' |
I agree with pretty much all of it, though wouldn't be quite so worried about US debt, for a variety of reasons, that I may get around to spelling out, or not….
LATER: Debt "not a problem" (per me, and without googling):
1. The market for US debt tells us it's not. If it were, US Treasuries would be sold off leading to higher interest rates. Rates remain at historical lows, indicating the HUGE (bigger than the share markets) international fixed-interest market has no concerns.
2. The US $ is the world's reserve currency. So no exchange rate risk in the increasing debt.
3. U.S. Debt/GDP ratio -- iirc -- is middling to high, not the highest and not in the concern area.
4. Most debt is domestic: money the US owes to itself.
1. The market for US debt tells us it's not. If it were, US Treasuries would be sold off leading to higher interest rates. Rates remain at historical lows, indicating the HUGE (bigger than the share markets) international fixed-interest market has no concerns.
2. The US $ is the world's reserve currency. So no exchange rate risk in the increasing debt.
3. U.S. Debt/GDP ratio -- iirc -- is middling to high, not the highest and not in the concern area.
4. Most debt is domestic: money the US owes to itself.
