  Sstashmoo Member Username: Sstashmoo Post Number: 3452 Registered: 02-2007 |
Somebody needs to obviously.. "" BEIJING (AP) -- China's premier didn't say it in so many words, but the implied warning to Washington was blunt: Don't devalue the dollar through reckless spending. Premier Wen Jiabao's message is unlikely to be misunderstood at the White House. It is counting on Beijing to help pay for its stimulus package by buying U.S. bonds. China already is Washington's biggest foreign creditor, with an estimated $1 trillion in U.S. government debt. A weaker dollar would erode the value of those assets. "Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried," Wen said at a news conference Friday after the closing of China's annual legislative session. "I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."" http://finance.yahoo.com/news/ China-worried-about-US-apf-146 26858.html | ||
Oladub Member Username: Oladub Post Number: 1304 Registered: 08-2006 |
China has sensibly decided to use much of its dollar holdings on internal infrastructure projects. Better that is has rail lines, power plants, and bridges than a pile of dollars losing their value. China recently demanded that the US guarantee that its assets will be protected to the extent that it still buys US treasuries. Has anyone heard anything about what Hillary promised to China to meet its demands? A la Zimbabwe, the Fed has recently started 'buying' it's own loans to the federal government in lieu of finding non-existent purchasers. | ||
D_mcc Member Username: D_mcc Post Number: 1728 Registered: 12-2007 |
Well...considering China owns Half our country...I am sure they think they should have some say in it... | ||
Bigb23 Member Username: Bigb23 Post Number: 4171 Registered: 11-2007 |
We have gone from "Axis of Evil" to "Ask us to Grovel" | ||
Ccbatson Member Username: Ccbatson Post Number: 19385 Registered: 11-2006 |
Apples and oranges...they are communist with pretend capitalism. All enterprise is majority owned by government in China. |
