6. Financing China
Former president Donald J Trump may have ignited a trade war with communist China, but the sad truth is, China lends the US more money than any other foreign nation. The Chinese have close to half of their cash reserves invested in U.S. debt and by the last estimate, they own more than 4 percent of US debt (around $1.1 trillion).
So it seems a little odd that the Federal Government has spent $17.8 million dollars on social and environmental programs for China over the past few years. One of the most bizarre being when they spent $2.6 million on advertising to encourage Chinese prostitutes to drink responsibly. Why? We have no idea…..
