British Empires debt? During the Suez Crisis 1956 the United Kingdom and France looked like they were going to War with Russia over egypt, the United States demanded that the United Kingdom and France end their invasion of Egypt or otherwise face imminent economic sanctions which would in all probable causes, create an economic collapse in the United Kingdom and a severe devaluation of the sterling pound. This threat made by Dwight Eisenhower led to an immediate British and French withdrawal of their military.
This is what happens when a foreign country holds all your debt. They can dictate your foreign policy and you have to obey just as the Americans demanded the British withdraw they had to or face economic disaster. Is this the same situation the USA now finds itself in with China?
This is what happens when a foreign country holds all your debt. They can dictate your foreign policy and you have to obey just as the Americans demanded the British withdraw they had to or face economic disaster. Is this the same situation the USA now finds itself in with China?