Finance: creditors to the US
Self-tutoring about government finance: the tutor mentions the leading holders of US treasuries.
I once heard that, if the US were to get into another armed conflict, they would have to borrow the money from China. The person concluded, therefore, that open conflict between the US and China seemed unlikely.
Nowadays, interestingly, Japan is the leading holder of US treasury bills, with $1.1 Trillion worth. China is next, with $867 Billion. One might be surprised to learn that the UK is in third place, with $655 Billion.
The projected US deficit for 2023 is $1.7 Trillion; that’s quite nearly what Japan and the UK hold. One might ask how much the US can really do militarily, given that it will either have to make deep cuts on government spending at home, or else borrow the money from foreigners, to facilitate it.
Source:Oracle Tutoring by Jack and Diane, Campbell River, BC.