You can also default on your mortgage against the big banks.......... http://www.reuters.com/article/idUSSGE5BS09T20091229?type=marketsNews
will Goldman order the Israeli military or the USA military to attack china? this i like a giant squid fighting a great white shark.
This is interesting in that China is basically saying "We don't play by your rules." Maybe Hank Paulson can go over there and convince them to pay GS - he used to love going to China all the time in the past. Though, since he was running GS back when all the derivatives were being sprinkled around the world, they might put him in one of their gulags now.
Asian developing country policy is very simple = you want to give us something = very good = you make profit from us = very very bad GM and Google are riding high in China now, but once they technology and know how is acquired, their days will be numbered.
China sucks. This type of risk is bad for any developing country. They only hurt themselves in the long run when they pull shit like this. Not to mention it plays into every stereotype about doing business with Asians.
LOL at the superiority complex people are throwing in this thread China has been taking on America's debt for years. They have every right to tell them to fuck off and I doubt they'd suffer if they rejected their currency too if they had gold reserves available.
China gets many things right; At least you don't see them wasting hundreds of millions on terrorist trials like we do here in New York. Half an hour trial and a few bullets cost much less than 100,000,000$ Also, they don't take too much crap from the religious nuts like the hordes plaguing us here.