In 2009, why was China concerned about the Affordable Care Act that was then being crafted in the United States? Why was the Obama administration quick to try to alleviate China's concerns?
What will be an ideal response?
An ideal response will:
1, Note that China was concerned that the health care law would add considerably to deficit spending and that China was concerned about the ability of the United States—its major creditor—to pay its debts.
2, Indicate that the Chinese government, banks, and citizens fund much of the U.S. deficit spending by purchasing U.S. government bonds.
3, Explain that the United States was quick to alleviate China's concerns because it needs to continue to borrow money from China to fund its deficit spending.
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