Joseph E. Stiglitz Quote

Today, China alone holds more than $1 trillion in public and private American IOUs. Cumulative borrowing from abroad during the six years of the Bush administration amounts to some $5 trillion. Most likely these creditors will not call in their loans—if they ever did, there would be a global financial crisis.

Joseph E. Stiglitz

Today, China alone holds more than $1 trillion in public and private American IOUs. Cumulative borrowing from abroad during the six years of the Bush administration amounts to some $5 trillion. Most likely these creditors will not call in their loans—if they ever did, there would be a global financial crisis.

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