"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."
No Oriental inscrutability here. Very serious warning.
Follow Up: Only two days ago Premier Wen declared that there were very strong trends toward deflation. Keeping this diary I can see it half a page below. Sending contradictory messages is not the Chinese way. I am confused.
5 comments:
Where do you get your Chinese news?
China?
China should be worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.
Washington has bailed out the banks, Wall Street & their Washington special interests and much of the cost is added to the national debt to by paid by this and future generations while real estate and investments continue to fall. Find out what a growing repudiate the debt movement could mean for treasury bonds, the dollar, gold and the stock market.
The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts
Thanks,
Ron
Sending contradictory messages is not the Chinese way. I am confused.
It may not be contradictory. If the US does not default then there should be deflation. If the US does default, then there should be chaos.
What websites do you get your Chinese news from?
The online Asian Times is a good place to start. Also there are many Chinese sites and blogs, some in "chinglish".
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