"in vain do they worship me" - Foreign Debts of the US

The Tokyo Station under Repair, Tokyo

Foreign Debts of the US

The US is the largest owner of external assets and external debts.

But Japan is not.

List of sovereign states by external assets

Rank	Country	Financial assets
1	United States	35,543
2	Japan	14,172
3	United Kingdom	5,067
4	Germany	4,934
5	China	4,459
6	France	3,995
7	Italy	3,655
8	Canada	2,711
9	Australia	1,953
10	Spain	1,777
11	Netherlands	1,746
12	Taiwan	1,623
13	Switzerland	1,575
14	South Korea	1,435
15	Brazil	1,224
16	India	989
17	Belgium	918
18	Mexico	819
19	Sweden	739
20	Denmark	587
21	Austria	498
22	Singapore	431
23	Portugal	395
24	Malaysia	348
25	Norway	345
26	Ireland	294
27	Russia	282
28	Poland	281
29	Greece	276
30	Chile	261
31	Finland	240
32	Thailand	211
33	South Africa	205
34	Turkey	191
35	Indonesia	169
36	Czech Republic	136
37	New Zealand	124
38	Colombia	115
39	Romania	112
40	Hungary	104
41	Argentina	47
42	Croatia	45
43	Slovenia	42
44	Slovakia	41
45	Ukraine	41
46	Bulgaria	38
47	Lithuania	22
48	Estonia	19
49	Kazakhstan	17
50	Latvia	14

http://en.wikipedia.org/wiki/List_of_sovereign_states_by_external_assets

List of countries by external debt

Rank	Country	External Debt[2] US dollars	Date	Per capita[3][4][5][6] US dollars	% of GDP[7][8][9]
1	United States	15,813,740,000,000	26 June 2012	50,266	103
—	European Union	13,720,000,000,000	30 June 2010	27,864	85
2	United Kingdom	8,981,000,000,000	30 June 2010	143,009	360
3	Germany	4,713,000,000,000	30 June 2010	57,755	142
4	France	4,698,000,000,000	30 June 2010	74,619	182
5	Japan	2,441,000,000,000	30 September 2010	19,148	45
6	Ireland[10][11]	123,058,047,000	10 November 2011	26,820	108.2
7	Netherlands	1,884,489,600,000	3rd quarter of 2010[12]	226,503	344
8	Italy	2,223,000,000,000	30 June 2010 est.	36,841	108
9	Spain	2,166,000,000,000	30 June 2010	18,260	84
10	Luxembourg[note 1]	1,892,000,000,000	30 June 2010	3,696,467	3,443
11	Belgium	1,241,000,000,000	30 June 2010	113,603	266
12	Switzerland	1,200,000,000,000	30 September 2010	154,063	229
13	Australia	1,169,000,000,000	31 December 2010est.	52,596	95
14	Canada	1,181,000,000,000	30 June 2011 est.	29,625	64
15	Sweden	853,300,000,000	30 June 2010	91,487	187
16	Austria	755,000,000,000	30 June 2010	90,128	200
—	Hong Kong	750,800,000,000	31 December 2010est.	105,420	334
17	Norway	643,000,000,000	12 August 2011	131,220	141
18	China	635,500,000,000	31 December 2011 est.	396	5
19	Denmark	0	31 March 2012	0	0
20	Greece	532,900,000,000	30 June 2010	47,636	174
21	Portugal	497,800,000,000	30 June 2010	46,795	217
22	Russia	480,200,000,000	30 November 2010est.	3,235	33
23	Finland	370,800,000,000	30 June 2010	68,960	155
24	Korea, South	370,100,000,000	31 December 2010est.	7,567	37
25	Brazil	310,800,000,000	31 December 2010est.	1,608	15

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt 

Yes, to your surprise, Japan has less foreign debts than the US, the EU, the UK, Germany and France.  But Japan has the largest foreign assets only next to the US.

A disturbing aspect of the U.S. external position has been the United States’ move from being the world’s largest creditor nation in the mid-1980s to the world’s largest debtor nation at present. Currently, the U.S. gross external debt position is around 120 percent of GDP while its net external debt position is more than 20 percent of GDP and rising.

It is also of concern that most of the U.S. external current account deficit is now being financed by central banks, particularly in the OPEC countries and China, rather than by private investors. Foreign central bank dollar holdings now exceed US$6 trillion, of which more than one-quarter is held by the Chinese central bank. Earlier this month, the Chinese premier expressed his unease about China’s very large exposure to changes in the value of the U.S. dollar that was posed by China’s holdings of U.S. government bonds.

http://www.american.com/archive/2009/march-2009/q-a-how-to-think-about-the-u-s-dollar

The world of today has one big problem as the US relies on China in maintaining its financial balance.  China is financing the US.

But truth is this.  China imports, legally or illegally, Japanese technology and funds to have industrial capability.  China produces goods and products for Wal-Mart, Apple, and other US companies.  China receives a huge amount of dollars from the US.  And then China invests those dollars into the US financial market.    

The point at issue is whether it is possible that the US and China make war against each other for any interest.  It is not.  But, if a revolution and a civil war should occur in China, the US might be involved with its superior military capability.  Till the start of the 22nd century, this situation can happen in and around China.  The Chinese Communist Part will lose power.

Another possibility is that more and more Chinese will move to the US to live there as permanent residents.  Till the start of the 22nd century, about 30 million more Chinese might be living in the US whether or not on the permanent basis or the temporary basis.  

But, the peace would be maintained due to the presence of Japan.

*** *** *** ***






Mar 7:7 Howbeit in vain do they worship me, teaching for doctrines the commandments of men.
Mar 7:8 For laying aside the commandment of God, ye hold the tradition of men, as the washing of pots and cups: and many other such like things ye do.