China calls for US Credibility

[Guest Tony n Terrific]

I watched the whole thing on cctv9 overnight - i'm sorry, cnn has taken out bits and pieces to try to make his comments something different, with a different spin.

What else is new with CNN. They believe in freedom of the press according to CNN. Yet we sponsor their advertisers so the can go on.

[Guest Tony n Terrific]

I just have this little problem of understanding how spending a billion dollars an hour - of money you don't have - is a good direction.

Ask the idiots that have never did a days work in their lives who are in power now. Mama, Daddy I need more money. Thats all they know. Losers!

[Guest ShaQuaNew]

I just have this little problem of understanding how spending a billion dollars an hour - of money you don't have - is a good direction.

 

The only explanation I can imagine is simply to put off the inevitable for a few more months. There is only so long an economy can survive on credit. Right now, it's time to pay the bills and quit the spending. What's most disturbing about selling more debt, is that it will only make the on-coming fall much more difficult.

[LeeFisher3]

The ONLY THING Premier Wen Jiabao said in that interview was:

 

>>>to call on the United States to honor its word and stay a credible nation

 

This is a TERRIBLE recrimination to be said publicly. It is WAY OUTSIDE of the traditional Chinese handling of such concerns.

I'd be if you were holding a note for about a trillion dollars from the US Government might make you a bit nervous and concerned.

 

The Chinese have good reason to be concerned as the risk they are currently facing is WAY OUTSIDE of the traditional Chinese comfort zone.

 

I'm not blaming the administration for this, but congress showed absolutely no constraint in their latest budget given the circumstances.

[chilton747]

Sooooo.............what is it really gonna be like when China says "PAY UP!!"

[Dennis143]

The Group of 20 finance ministers gathering this weekend in England are of various minds about what should be done to address the international financial crisis, but two of the richest countries, the United States and China , on this occasion are standing together. The U.S. and Chinese governments agree that the top priority should be to pump more money into the world economy to boost global demand. When ranked by their purchasing power, the United States and China are the largest economies in the world , and the ties between them arguably make theirs the single most important economic relationship in the world today. For both governments, the global financial crisis has served to remind them of their deep interdependence.

http://www.npr.org/templates/story/story.p...oryId=101882591

[IllinoisDave]

The Group of 20 finance ministers gathering this weekend in England are of various minds about what should be done to address the international financial crisis, but two of the richest countries, the United States and China , on this occasion are standing together. The U.S. and Chinese governments agree that the top priority should be to pump more money into the world economy to boost global demand. When ranked by their purchasing power, the United States and China are the largest economies in the world , and the ties between them arguably make theirs the single most important economic relationship in the world today. For both governments, the global financial crisis has served to remind them of their deep interdependence.

http://www.npr.org/templates/story/story.p...oryId=101882591

Exactly. Wen knows he's not gonna get anywhere antagonizing the US over the measures being taken to solve this problem. And he knows that at this point we're basically all in this together. One of us goes down, the other goes down.

[Guest ShaQuaNew]

Sooooo.............what is it really gonna be like when China says "PAY UP!!"

 

That might as well be what China is asking for. Instead, it's much more like a very disappointed father admonishing his child to be more responsible.

 

Analysts estimate that nearly half of China's $2 trillion in currency reserves are in U.S. Treasuries and notes issued by other government-affiliated agencies.

 

Wen's comments foreshadowed possible appeals to President Barack Obama, who will meet with Chinese President Hu Jintao at a London summit of leaders of the G-20 group of major economies on April 2 to discuss the global financial crisis.

 

China has already committed the money it would have normally spent on US T-bills, to rebuilding its own infrastructure. They made that decision a while back, as the US debt is looking more and more like a bad buy. China wants the US to succeed though, as it would be good for them. It bothers them however that bad choices continue to be made.

 

Washington is counting on China to continue buying Treasuries to fund its massive stimulus package. Last month, visiting Secretary of State Hillary Rodham Clinton sought to reassure Beijing that government debt would remain a reliable investment.

 

China's foreign minister, Yang Jiechi, said Wednesday during a visit to Washington that Beijing wants to "strengthen macroeconomic policy dialogue" with the Obama administration.

 

"They are worried about forever-rising deficits, which may devalue Treasuries by pushing interest rates higher," said JP Morgan economist Frank Gong. "Inside China there has been a lot of debate about whether they should continue to buy Treasuries."

 

http://www.breitbart.com/article.php?id=D9...;show_article=1