Drudge Retort: The Other Side of the News
Wednesday, August 07, 2019

China's trade war with the United States has escalated in recent days, posing a growing threat to an already slowing economy. Beijing needs private businesses to help rekindle growth and provide paychecks to Chinese workers. But many of those private businesses are short of cash. Instead, more than $200 billion in i.o.u.s -- known in the dry world of finance as commercial acceptance bills -- are floating around the Chinese financial system, according to government data.



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Are we really prepared to destroy China? I don't want to hurt a billion plus people. This is as bad as a real war.

#1 | Posted by BruceBanner at 2019-08-07 09:16 AM | Reply

This sounds more like a collapsing property bubble that was likely pricked by tariffs, but it was going to pop soon anyway.

The popping bubble won't destroy China. It may save Hong Kong and Taiwan from takeover by the mainland.

#2 | Posted by bored at 2019-08-08 12:56 AM | Reply

Pocket change. Just take a couple of months of our trade deficit with China to pay off those IOUs.

#3 | Posted by goatman at 2019-08-08 01:50 AM | Reply

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Drudge Retort