We have recently received a copy of a letter from the fine people over there in China addressing their concern about the 800 billion dollars that you owe them. It is with great humility that we must remind you that you also owe our fine people 800 billion dollars.
We in Japan have symphony with your situation.You see our debt has been close to the value of our GNP, the same as you, for a long time and we have been unable to grow out of it.We have had little economic growth for 20 years and fear the same for your country. Given this grave situation we worry that you will pay China with US dollars and may have to resort to paying us with more debt. Since we are broke this is not a good idea and we implore you to help us out. In the meantime ,while we remain your friend, we will be reducing our purchase of your debt to protect our country.