As Donald Trump seeks leverage against China, the tycoon-turned-president appears to have forgotten the basics of his former day job. Beijing may be about to remind him about borrower/lender mechanics.
The U.S. built a huge, innovative and enviably wealthy economy, but Asia holds the mortgage. Beijing owns $1.2 trillion of U.S. Treasuries, and Tokyo $1.1 trillion. Hong Kong has $192 billion, Taiwan $182 billion, India $141 billion, Singapore $130 billion.