11/19/09 Stockholm, Sweden – The Great Wall was built between the 5th and 16th century BC to protect China from attacks along the northern borders of its empire.
Now China’s wallet is performing a similar role in economic policy. Few tools help keep a slumping superpower and its sometimes needy requests at bay better than control over the purse strings.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
The Daily Reckoning is your premier source for making sense of the news Washington and Wall Street generate. Each business day, The Daily Reckoning calls on its stable of world-class writers and thinkers to show you how to get ahead.
Start your 100% FREE subscription to The Daily Reckoning today and you’ll get a free research report, “How to Survive the Fall of Social Security.” Simply enter your email address below to get your free report and join over 495,000 worldwide Daily Reckoning subscribers!
We Respect Your Privacy and We will
Never Share or Sell Your Email Address
America’s exploding debt is a ticking time-bomb. No one can say for sure what might trigger a crisis and when the bomb might explode, but this much is for sure: America’s current level of borrowing is unsustainable.
America’s debt crisis is reflected both in our exploding national debt and our astounding level of borrowing from foreigners, as measured in the current account trade deficit. Every day we fail to address these problems, we increase the chances that the country will be facing an economic crisis of major proportions.