Essay On Distrust In America

Throughout the history of the United States, the country has almost always had some form of public debt since it's inception in 1776. This is true, not only for the U.S., but every country around the world. Almost any governing body, including the world's population, has incurred debt at some point in their existence. If this pertains to every country around the planet, who is there to pick up each nation's "tab" besides other governments? Centuries of assistance and development between nations have created a system where modern societies rely on the foundations established with the help of others. Over time, this has only expanded as countries incur more and more external debt in order to simply fuel their existence. This dependence heavily applies to the United States of America, which stands as having the most external debt of any country in the world. But if the U.S. has such a …show more content…
With China being America's paramount external banker, it has some political power already. In the past, China has threatened to take this action in small instances whenever the U.S. allows the value of its currency to drop, which raises the value of the yuan. This has developed wariness between the U.S. and China that would further escalate if China were to carry out their "threats." The final outcome of such an event would involve the United States relying heavily on other foreign powers in order to hold up their debt and replace China. An outcome such as this would place strain on the relationships between the U.S. and other countries, as they are required to purchase more and more U.S. bonds. While politics wouldn't be as severely damaged as economies or businesses, there is still the possibility that the situation could escalate to further political