Word: creditors
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...Great Powers engage in and protect against espionage, but the U.S. has been loath to criticize Beijing for fear of antagonizing its largest foreign creditor and or losing access to China’s rich markets. This indicates that financial interdependence, though economically beneficial, does little to mitigate global rivalries and often severely alters the power dynamics in relationships between states. Ultimately, America should respond by being wary at home and by increasing its own intelligence-gathering abroad. Given its clandestine nature, this cannot evoke bitterness the way overt military force does...
...Geithner concluded his maiden journey to China as Treasury Secretary on Tuesday by meeting the two most powerful men in the nation that is the biggest creditor of the United States: President Hu Jintao and Prime Minister Wen Jiabao. The man whose name now graces dollar bills in the United States was, in effect, meeting his bankers. But if those two pressed the Treasury Secretary about whether their government's huge investments in the U.S. are safe - the way some of their colleagues "grilled" Fisher, Geithner's former colleague on the Federal Reserve Board - it's a secret. Indeed...
...fact, in March, China's direct holdings of U.S. Treasury securities alone (excluding so-called agency debt issued by Fannie Mae and Freddie Mac) rose $23.7 billion, to reach a new record of $768 billion, according to preliminary U.S. data, making China far and away America's biggest creditor...
...failed company. Stockholders have the weakest claim - they made a bet on success, got failure instead, so too bad. The strongest claims belong to secured lenders, which are first in line for any proceeds if the company is liquidated. In between lie the unsecured claims. For a carmaker, this creditor class includes suppliers who haven't been paid, car owners whose repairs ought to be covered by warranty, dealers seeking reimbursement for manufacturers' rebates - and the UAW seeking a VEBA payment...
...wonder that some of Chrysler's creditors said no, and it's also no surprise that a group of GM bondholders is putting forward an entirely new plan for that automaker, cutting out the government, which is slated to become a majority owner. The creditors' new plan suggests giving them a controlling equity interest instead and keeping the government (i.e., American taxpayers) as a creditor. Obama has made it clear that he has no interest in running a car company, so this offer may be one worth considering...