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Chinese public worried about owning so many U
"If this wealth was spent in China, it could improve the Chinese living condition," said Yarong Ashley, a University of Wyoming professor who researches China's social and economic changes. "Also, if you put so much of your savings in one basket, you are taking some risk."
"They can go into Africa and buy natural resources," Ashley said.
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Ashley and three professors from Shanghai University spoke at a forum on Chinese globalization and economic development Thursday night in Casper at the University of Wyoming/Casper College Center Outreach Building. companies hire Chinese factories to make clothing or computer components, they pay in dollars. Chinese factory owners exchange the dollars into Chinese yuan to pay their bills and employees' wages. dollars.
"The Chinese public is worried," Ashley said. "What will happen if the United States can't pay us back? What will we do?"
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of dollars. "If they wanted to purchase an advanced weapon, no one is going to sell it to them," she said. Treasury bonds end up being a relatively safe bet.
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There's only so much they can do with the dollars. dollars.
But the Chinese public isn't exactly thrilled about it, either.
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