Image- US and China stand-off is showing no signs of relenting. Photo: Getty
What worries me the most is that it’s been reported there are even talks about canceling our debt that China invested in heavily as punishment for the release of the virus. Can you imagine what that would do to our financial credibility around the world?
At a time when so much of our economy depends on imports from China…especially now with ventilators and other critical chemicals we need for COVID-19 testing, not to mention the millions of consumer products made in China that we will need when the economy opens up again, this idea sounds ludicrous.
We did not blame or even discussed punishing Africa for spreading Ebola or Hong Kong for SARS. I worry that when we should ALL be working together as a global community to beat this pandemic that we are pointing fingers to blame China to motivate purely political gains.
I cannot even imagine how China would respond if the U.S. canceled the US$1.1 trillion in debt that they have invested at a time when we needed them to buy our debt. It would no doubt fuel China’s distrust of the West and would bring back memories that dates back to the days of the Opium Wars when China was weak and bullied by the West. China is no longer weak and they have made it clear to the world that they are capable of defending themselves against any form of aggression. We do NOT need this confrontation at this critical time in human history.
We need level-minded decisions…without a political agenda…PLEASE!!!