China and the Olympics

The past two weeks we’ve heard a lot about China hosting the Olympics and what we should or shouldn’t do to protest their human rights abuses.  Everyone has an opinion.

 While I’d like nothing more than for the IOCC to rip the games from them and set them up somewhere else, its just not possible.  Too much logistics, travel planning and other things go into this decision.  The fact that China won the games in the first place is ridiculous–but that’s another conversation altogether.

 So, the candidates, the pundits and protestors all weigh in on whether or not President Bush should attend the games, the Opening Ceremonies, how the US should express their displeasure.

Only problem–we can’t.  We are so indebted to the Chinese, we can’t afford to offend them.  It disgusts me that we are in this far to the Chinese.  However, they are in a place to make us dance for them, not the other way around.

Who is our second largest trade partner?  China.  Who owns our national debt?  China.  If not the majority, they hold the notes to a significant chunk.  A significant enough chunk that we could not pay back if they called it in.  In fact, if not for China our economy would be much, much worse.  And that scares me–they are buying up our dollars, now holding over $1 trillion dollars in reserve.  Economists cite that as one of the main reasons inflation has not risen much faster. 

China has us by the balls.  We have nowhere to go.  We cannot risk upsetting them.  If we do, we’re in deep trouble. 

*hangs head in shame that we are in this place*

Its sickening to think about, isn’t it?