Skip to comments.China tells US to make sure Beijing's investments are safe
Posted on 12/03/2008 6:52:28 PM PST by NormsRevenge
BEIJING (AFP) China's top envoy to high-level economic talks with the United States urged Washington Thursday to make sure Chinese investments in the US economy were safe.
"We hope the US side will adopt every necessary measure to stabilise its economy and financial markets and ensure the safety of China's assets and investment in the United States," Vice Premier Wang Qishan said.
He made the remark in prepared comments at the start of two days of Sino-US economy talks in Beijing that he is co-chairing with US Treasury chief Henry Paulson.
At the end of September, China officially became the largest holder of US government bonds, owning 585 billion dollars' worth of Treasuries and overtaking Japan as Washington's top creditor.
China is spending a large part of its bulging trade surplus on buying US government debt, but criticism is emerging in Chinese academic and policy circles that this type of investment is not as safe as it used to be.
Wang also said China had adopted a series of policies to boost growth in China, referring to a recent four-trillion-yuan stimulus package earmarked especially for infrastructure spending.
"This is already a big contribution to the stable development of the world's finance and economy," he said.
He said the most pressing task China and the United States were currently facing was dealing with the global financial crisis.
(Excerpt) Read more at news.yahoo.com ...
They're 100% backed by the jellyfish in Congre$$ and at the tReasury
U.S. Treasury Secretary Henry Paulson (R) pauses during the opening session of the 5th U.S.-China Strategic Economic Dialogue in Beijing, December 4, 2008. Paulson, at the beginning of two days of economic talks with top Chinese officials, praised China on Thursday for its help in trying to tamp down global economic turbulence. REUTERS/Jason Lee (CHINA)
And I thought the Chinese were smart. Silly me.
Don’t worry. That seven trillion dollar bailout will make sure of it.
U.S. Treasury Secretary Henry Paulson (L) shakes hands with Chinese Vice Premier Wang Qishan before the opening ceremony of the Strategic Economic Dialogue in Beijing December 4, 2008. REUTERS/Greg Baker/Pool (CHINA)
Don’t worry China, Hussein Obama will take good care of you....and stab the rest of the US in the back.
China's Vice-Premier Wang Qishan (2nd L) and U.S. Treasury Secretary Henry Paulson (2nd R) attend the opening session of the 5th U.S.-China Strategic Economic Dialogue in Beijing, December 4, 2008. U.S. Treasury Secretary Henry Paulson, at the beginning of two days of economic talks with top Chinese officials, praised China on Thursday for its help in trying to tamp down global economic turbulence. REUTERS/Jason Lee (CHINA)
Here’s hoping China is heavily invested in GM shares...
Buyer beware, China.
Oh, and by the way, I don’t care how powerful the world thinks you are, you are commies and commies are the most inefficient rulers in the world. You have no standing to complain about us.
"China has begun to devalue the yuan for the first time in over a decade, raising fears that it will set off a 1930s-style race to the bottom and tip the global economy into an even deeper slump."
China tells US to make sure Beijing’s investments are safe...so they will have enough money to pay for new ballistic missile submarines, ICBM’s, and anti-satellite weapons.
Buyer beware, China.
Oh, and by the way, I dont care how powerful the world thinks you are, you are commies and commies are the most inefficient rulers in the world. You have no standing to complain about us.
Aren’t we the commies now too?
“Arent we the commies now too?”
If you measure that sort of thing by how much your government screws up your economy (as opposed to something as insubstantial as ideology), then we’re getting there.
The US Treasury needs to have one of those little gold “Made in China” stickers on it; just like all the other junk in this country.
I dunno. Seems like we’ve been doing everything we can to transfer our industry & wealth to them. How smart was that?
Instead it's making communists out of us.
Right, just like the current Administration did.
They are beholden to the Chinese and wealthy Arabs who own enormous amounts of US equities.
“”We hope the US side will adopt every necessary measure to stabilise its economy and financial markets and ensure the safety of China’s assets and investment in the United States,” Vice Premier Wang Qishan said.”
TOP SECRET AND CONFIDENTIAL
Dear Vice Premier Wang:
First, I must solicit your strictest confidence in this transaction. This is by virtue of its nature as being utterly confidential and “Top Secret”.
As a top official of the Federal Government I have access to funds which can be used to insure China’s business investments. However, those funds are presently confined in the Central Bank of Niagara. In order to commence this business, we solicit your assistance to enable us to transfer into your account, the said trapped funds.
The following represents the source of the funds. A major United States Bank, the Central Bank of Niagara, where we have deposited funds, has collapsed. An article about this collapse, from the Llagos Herald, entitled “Niagara Falls”, is enclosed for your reference. Since then we have turned to address how to get those funds from the Bank of Niagara. We have moved inch by inch, step by step, but now we must ask for your help.
We have identified a lot of inflated contract sums which are presently floating in the Bank of Niagara ready for payment, amongst which is the said sum of US$31,320,000 (Thirty One Million, Three-Hundred and Twenty Thousand United States Dollars) that we intend to transfer to a special account for saving Chinese investments in the US. We solicit your assistance for the transfer. As I am unable to manage the transfer all by myself by virtue of my position as a civil servants and member of the Cabinet, I have therefore been delegated as a matter of trust by my colleagues to solicit for an overseas partner into whose account we would transfer the said sum.
We have agreed to share the money thus:
1. 25% for the Account Owner (you)
2. 65% for the Fund to Insure Chinese Investments
3. 10% to be used in settling all expenses (our end and your end). Incidental to the realization of this transaction.
Please note that this transaction is 100% safe and we hope to conclude the transaction in at most 10 banking days from : 234-30-408550 and 234-90-408674, the date of the receipt of the following information from you by Fax through your company name and address, your bankers name and your Tel/Fax: number, bearing in mind the festivities (Christmas & New Year season) we are in.
As a token of our appreciation to you, we shall make available to you at less than market price as much as 500,000 tons of American Chop Suey.
We are looking forward to doing this business with you and solicit your confidentiality in this transaction. Please acknowledge the receipt of this letter using the above Tel/Fax numbers. I will bring you into the complete picture of this pending project when I have heard from you.