China Is Worried About The US - Ford Powerstroke Diesel Forum
 
LinkBack Thread Tools Display Modes
post #1 of 4 Old 03-13-2009, 06:59 AM Thread Starter
Raging Lunatic

 
choctaw's Avatar
 
Join Date: Apr 2008
Location: Euless, Texas
Posts: 8,803
Thanks: 0
Thanked 1 Time in 1 Post
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Feedback Score: 1 reviews
China Is Worried About The US

My Way News - China "worried" about US Treasury holdings

Quote:
BEIJING (AP) - China's premier expressed concern Friday about its massive holdings of Treasuries and other U.S. debt, appealing to Washington to safeguard their value, and said Beijing is ready to expand its stimulus if the economy worsens.
Premier Wen Jiabao noted that Beijing is the biggest foreign creditor to the United States and called on Washington to see that its response to the global slowdown does not damage the value of Chinese holdings.
"We have made a huge amount of loans to the United States. 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 following 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."
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.
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.
Washington is counting on China to continue buying Treasuries to fund its $787 billion stimulus package. Last month, visiting Secretary of State Hillary Rodham Clinton sought to reassure Beijing that government debt would remain a reliable investment.
"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."
The comments come as finance ministers and central bankers of the G-20 gather in London this weekend to discuss the crisis and possible remedies.
U.S. Treasury Secretary Timothy Geithner is pressing for a new coordinated stimulus but European governments are reluctant to take on more debt before they see how current plans are working. The Europeans want to emphasize the need for greater regulation of markets, including a crackdown on tax havens and increased control over hedge funds.
In Beijing, Wen expressed confidence China can emerge from its slump "at an early date," and said the government is ready to expand its 4 trillion yuan ($586 billion) stimulus to boost growth in the world's third-largest economy.
Communist leaders worry about rising job losses and possible unrest amid a trade slump that saw Chinese exports fall 25.7 percent in February from a year earlier. They have promised to spend heavily to create jobs and boost exports.
"We already have our plans ready to tackle even more difficult times, and to do that we have reserved adequate ammunition," Wen said. "That means that at any time we can introduce new stimulus policies."
In nearby Japan, Prime Minister Taro Aso called Friday for a fresh stimulus to help lift the world's second-largest economy out of "an unprecedented economic crisis." The comments helped spark a rally in Japan's stock market, where the Nikkei 225 stock index surged 5.2 percent.
China's Wen and other officials point to rising bank lending, power demand and other signs the stimulus is taking effect. But growth in retail sales is weakening, suggesting it has yet to spur private sector spending and investment, which analysts say will be key to its success.
Wen said Beijing can meet its 2009 growth target of 8 percent, despite skepticism by private sector economists, who expect as little as 5 percent. That would be the strongest of any major country but could lead to more waves of job cuts.
"I really believe we will be able to walk out of the shadow of the financial crisis at an early date," he said. "After this trial, I believe the Chinese economy will show greater vitality."
The premier promised to focus on job creation and give more help to smaller companies, which he said generate 90 percent of Chinese new employment.
"We will pay all attention possible to this issue and we will never overlook this issue," he said.
Wen said Beijing wants the London summit to focus on the plight of poor countries.
"We must see to it that we show concern for developing countries, and help developing countries - the least-developed ones in particular - become an important topic on the agenda," he said.

Halito...Sa hohchifo ut Mike
On EARTH as it is in TEXAS
ΜΟΛΩΝ ΛΑΒΕ
"Fast Service Guaranteed...No Matter How Long It Takes"
choctaw is offline  
post #2 of 4 Old 03-13-2009, 07:21 AM
Unapologetically American


 
2006PSDSD's Avatar
 
Join Date: Oct 2006
Location: Littleton, Colorado
Posts: 20,004
Thanks: 4
Thanked 27 Times in 26 Posts
Mentioned: 1 Post(s)
Quoted: 18 Post(s)
Feedback Score: 4 reviews
When they pull out, this country will be doomed IMO. Get your azzes ready to live off the grid


2006 F350 SOLD
* KMC XD Monsters wrapped in Hankook ATM's
* 08 style mirrors
* 4" TB exhaust
* SCT X2 with Gearhead, PHP and ID tunes
* Edge Insight CTS
*Full Bulletproof Diesel kit with remote oil cooler
* Blue FPR spring
* 6.4 Banjos
* Repaired FICM by BPD
* Dfuser coolant filter
* Stage1 MTW turbo



New truck has a Cummins and a handshaker
2006PSDSD is offline  
post #3 of 4 Old 03-13-2009, 07:30 AM
Compression Ignition Addict
 
symbols's Avatar
 
Join Date: Oct 2007
Location: Pasadena, TX
Posts: 6,505
Thanks: 0
Thanked 1 Time in 1 Post
Mentioned: 0 Post(s)
Quoted: 1 Post(s)
Feedback Score: 0 reviews
Quote:
Originally Posted by 2006PSDSD View Post
When they pull out, this country will be doomed IMO. Get your azzes ready to live off the grid
I can't wait to be free again!

Oh wait, I was never really free to begin with

Jason

"Using a thug's murderous rampage to call for gun control is like using Barack's reckless spending to call for higher taxes."

--Michael Berry, American philosophizer & Talk Radio Czar, 1970-?
symbols is offline  
post #4 of 4 Old 03-13-2009, 07:31 AM
Unapologetically American


 
2006PSDSD's Avatar
 
Join Date: Oct 2006
Location: Littleton, Colorado
Posts: 20,004
Thanks: 4
Thanked 27 Times in 26 Posts
Mentioned: 1 Post(s)
Quoted: 18 Post(s)
Feedback Score: 4 reviews
Quote:
Originally Posted by symbols View Post
I can't wait to be free again!

Oh wait, I was never really free to begin with
I hear ya, and I love to camp


2006 F350 SOLD
* KMC XD Monsters wrapped in Hankook ATM's
* 08 style mirrors
* 4" TB exhaust
* SCT X2 with Gearhead, PHP and ID tunes
* Edge Insight CTS
*Full Bulletproof Diesel kit with remote oil cooler
* Blue FPR spring
* 6.4 Banjos
* Repaired FICM by BPD
* Dfuser coolant filter
* Stage1 MTW turbo



New truck has a Cummins and a handshaker
2006PSDSD is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Ford Powerstroke Diesel Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome