have accumulated huge reserves by remittances from people employed in usa. To tide over the economic problem if the US Govt. requested them to withdraw these remittance /call back and reinvest in US .Is this possible ? if done what will happen? ( specially in the housing sector) .
The answer is: they export a lot more than they import.Go to any Wal Mart and make a random check of articles from electronics, to clothes, to toys, etc.,
They are mainly manufactured in China or in the case of textiles it's India. This is one of the main reasons why both these countries have huge dollar reserves.
China are busy converting their US$ into €uros so your plan is off to a sticky start.
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