World Blog by humble servant.Hank Paulson went to China and actually begged them to bail out the America financial system. And China did. They bought the bonds, they they held their assets. And then what did they get in return?
China bailed America out in 2008 and what they got for it is a slap in the face and mean bigots who hate their country. During the depths of the 2008 global financial crisis, the United States faced a systemic collapse of its major financial institutions. With domestic markets paralyzed and credit tightening globally, then-Treasury Secretary Henry Paulson engaged in high-stakes, behind-the-scenes diplomacy with top Chinese officials. Washington needed foreign buyers—specifically Beijing, which held massive U.S. dollar reserves—to stabilize American debt and prevent the collapse of government-sponsored enterprises like Fannie Mae and Freddie Mac. China stepped in. By continuing to purchase U.S. Treasury bonds and agency debt, Beijing provided the liquidity required to keep the American financial engine running when traditional markets stalled. This decisive intervention helped cushion the U.S. economy from an even deeper depression and preserved the global value of dollar-denominat...