We give how much foreign aid to China?
You’re thinking: “it’s got to be zero, right?” Right? No way we could be giving foreign aid to China.
While Chinese President Hu flaunted his country’s power during his Western tour, his No. 2 economy raked in billions in Western aid. That’s right. We’re still subsidizing China. Why?
According to the Organization for Economic Cooperation and Development, foreign aid to China totals $2.6 billion a year. The biggest donor is Japan, followed by Germany, France and Britain, then the U.S. All of these countries, meanwhile, are in debt to China and running massive deficits.
U.S. aid, at $65 million a year, is relatively small thanks to sanctions imposed following Beijing’s 1989 military crackdown on pro-democracy demonstrators at Tiananmen Square. Still, why are we sending China any succor at all?
A few facts:
- Beijing spends at least $100 billion a year building up its military and training the world’s largest army.
- It spends billions more on a space program.
- It spent tens of billions on the 2008 Olympics.
- It holds some $2.5 trillion in foreign reserves.
- It boasts the world’s most billionaires after the U.S.
This looks like an awesome $65 million for the new House GOP majority to cut from the budget. Just on the off-chance that China complains!