UNITED STATES & CHINA.

The media story that China is receiving foreign aid from United State seems more fascinating than true.

China, which is one of the biggest economies in the world, with a 9% yearly growth, has the audacity to take money from the U.S. as aid, although, it is lending trillions of dollars in return at the same time. Does not that boggle the mind?

"It also has loaned more than $1 trillion to the U.S. to fund its deficit-spending." the story goes on to say, and that is causing many eye brows to be raised in Washington D.C.

Members of the U.S. Congress are angry to the core, as to why that is happening; saying that it must stop forthwith; and two Senators have publicly voiced out their feelings on the issue.

"If they have enough of a surplus to loan us money, they have enough of a surplus to take care of their own needs." Sen. Tom Coburn (R-OK) says among other things; while Sen. Jim Webb (D-VA) makes similar remarks by saying,

"Hey, in the crisis that we're in right now, should we really be continuing to send American taxpayer dollars over to China for these purposes?" (Fox News. 10/25/11).

Many others have been saying the idea was ludicrous, and that it was like "carrying coal to New Castle", as said about the coal industry in the U.K.; that there was more coal there than anywhere else, and so it was practically foolish to send more of it back to New Castle.

On the one hand, China is competing with the U.S. in every corner of the world, economically and politically as well. It is "the faster-growing, second-largest economy in the world." and it needs no help from anyone. It is greedy for oil, and lately for gold; and there is no way of that greed slowing down any day now.

While, on the other hand, the U.S. is showing so much niceties, such as sending high ranking government officials to visit that country, it (China) is not being anything else, but a shrewd lender, with the highest interest rates for loans going to other countries.

In February 2009 Secretary of State visits China, and praises their swift economic advancement; and in August of this year, Vice President Joe Biden travels there too; all in the name of good diplomatic relations and mutual understanding; but how about mutual benefits? No?

Moreover, China's ambition of world domination is slightly been overlooked or underestimated; for example, it is building two nuclear-powered aircraft carriers, one of which has been launched in recent months, as an increase in naval power and capabilities in that part of the world, the Far East, which is strategically important to U.S. National security.

It is lending trillions of dollars to the U.S., and many are afraid that there must be a catch to it, as there is some sort of suspicion on the part of many lawmakers.

"The Senate recently passed a bill to punish Chinese currency manipulation, while the House is about to examine Chinese trade policy across the board." says the Fox News report.

If the U.S. is going to send money to China, done through "international institutions to which the U.S. contributes." it must reconsider, due to the fact that it (U.S.) is presently in financial woes and cannot afford to shell out money in the form of financial aid to an economic giant like China. It is "coal to New Castle" theory, and it must not be continued.

Although, the amounts may just be in millions of dollars, which may be loose change to China, compared to the "trillions" it is lending, the U.S. needs that money, under the circumstances; and therefore it must keep it, rather than sending it back to China.

More so, a way must be found to stop the hoarding of U.S. dollars by China. That practice is contributing to the economic downturn the country is now experiencing.