Question

There is an old American adage (saying): If you owe the bank a small amount of money, the bank controls you. If you owe the bank a large amount of money, you control the bank. In the case of U.S. government debt owned by China, who is the bank?

Answer 1

Answer:

See explanation below for answer.

Explanation:

In the case of the United States debt to China, the bank in this case is China because, following the analogy in the question, the person entity that lends money to another is the "bank".

As of December 2019, the United States debt to China stood at $1.07 trillion.

This therefore goes to further buttress the point of China being the bank in the case of them lending money to the United States of America.