James Fallows (January 09, 2008) - On the actual, you know, "issues" the next President will face

A timely reality check from James Fallows

Enough of this campaign hubbub! Whoever is left standing to be sworn in 377 days from now will suddenly have to worry about things like.... the Chinese government's enormous hoard of U.S. dollar assets.

My attempt to explain how exactly that pile of money was stacked up, and what the Chinese government has in mind for it, in this article from the Atlantic's new January-February issue. If you been yearning to know how the dollar you spend at Wal-Mart or CVS is eventually reincarnated as a Chinese-held Treasury note, or why Stephen Schwarzman of Blackstone is about the most reviled foreigner in China at the moment, your dreams have come true.

Unlike most previous such announcements, I don't have to say "Subscribers Only" for this one. It's in the free section of our site. Nonetheless, as always, Subscribe!

James Fallows (January 09, 2008) - On the actual, you know, "issues" the next President will face