Assessing the Impact of U.S. Debt to China

Assessing the Impact of U.S. Debt to China

Second installment of a new series sponsored by HSBC on Changing the Game: Asia's Emerging Markets

The U.S. Treasury recently published new figures showing that China now owns nearly $1.2 trillion in U.S. government bonds — a figure that promptly triggered widespread public concern over China’s power as a creditor. Putting these figures in perspective is the fact that while $1.2 trillion represents only 8 percent of America's $14.3 trillion debt, the same amount represents more than 20 percent of the entire Chinese economy, ensuring that China has a critical stake in the health and recovery of the American economy.

Is there real cause for concern about U.S. dependence and does this translate into increased Chinese economic and even political leverage over the United States? Or are the two countries in a stable “co-dependent” financial relationship, with the United States and U.S treasuries a safe haven for Chinese capital. This panel will evaluate the facts and the figures that have shaped both Chinese and American perspectives on this important and highly mediatized aspect of the U.S.-China bilateral relationship.

Stephen Bottomley, Senior Executive Vice President and Head of Commercial Banking, HSBC North America, will present introductory and concluding remarks to the panel discussion, where Frederick H. Katayama, Anchor, Thomson Reuters will moderate a conversation with Richard J. Herring, Jacob Safra Professor of International Banking and Professor of Finance, Wharton School, University of Pennsylvania, and Nicholas R. Lardy, Anthony M. Solomon Senior Fellow, Peterson Institute for International Economics.

Program: 6:30 - 8:00 pm
Reception: 8:00 - 9:00 pm

Can't make it to this program? Tune into AsiaSociety.org/Live at 6:30 pm ET for a free live video webcast. Viewers are encouraged to submit questions to [email protected].

Sponsored by HSBC

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HSBC Emerging Markets series overview

Event Details

12 January 2012
6:30pm - 8:00pm

725 Park Avenue at 70th Street, New York City

Members: $10; Students/Seniors: $12; Nonmembers: $15