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.
ping
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 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.
Aren’t we the commies now too?
“Aren’t 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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.