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by
Dean Baker
The NYT told readers that: “China is the biggest buyer of Treasury bonds at a time when the United States has record budget deficits and needs China to keep buying those bonds to finance American debt.”
Nope, this is nonsense. People can get the real story from today’s Krugman column, China has an unloaded water pistol pointed at our heads.
–Dean Baker
Dean Baker is senior economist at the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, including Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer. Read more about Dean. More by Dean Baker
