As the government shutdown drags on, the negative impact from this situation is threatening to completely dismantle what little bit of financial stability that we have left in the United States. Aside from all of the domestic problems that the shutdown has caused, now other countries are starting to call about the money that the U.S. owes. China`s Vice Minister of Finance Zhu Guangyao has warned U.S. officials that defaulting on its debt could have some very dire consequences. China holds $1.2 trillion in U.S. Treasury bonds, more than any other country. China also wants to protect the $54 billion dollars that they invested in the U.S. last year alone. Very serious words coming from a country that we really can`t consider an ally. Can we?
Given their alliance with North Korea and the support given to Iran with their Nuclear program, who knows where their true allegiance really is. There was also this little incident with Eric Snowden, where the Chinese government, after allegedly doing some very thorough briefing with Mr. Snowden, promptly turned him over to Vladimir Putin and Russia despite repeated requests from top U.S. officials asking not to let him leave the country. Given the history and our current relationship with China, let us hope that the "good" people in Congress can come up with a resolution about the shutdown soon.