"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.
His answer drew loud laughter from h...
"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s. His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home. The Beijing-based Global Times greeted Geithner by publishing a survey of Chinese economists who called big holdings of U.S. debt "risky". Geithner renewed pledges that the Obama administration would cut its huge fiscal deficits and promised "very disciplined" future spending, possibly including reintroduction of pay-as-you-go budget rules instead of nonstop borrowing. "We have the deepest and most liquid markets for risk-free assets in the world. We're committed to bring our fiscal deficits down over time to a sustainable level. "We believe in a strong dollar ... and we're going to make sure that we repair and reform the financial system so that we sustain confidence," he said. Geithner also offered strong backing for a bigger Chinese role in international policymaking. "China is already too important to the global economy not to have a full seat at the international table," he said.
Like to rate videos and let people know what you think?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
Like to share videos with friends?
Automatically share your ratings, favorites, and more on Facebook, Twitter, and Google Reader with YouTube Autoshare.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.
The US treasuries are "safe" as long as the United States wields the possibility of blocking Chinese imports, and then China will call the treasuries in response - essentially Financial Mutual Assured Destruction.
wow why the hell are they censoring the laughing i can't find it any where! Oh well it's not like we need any more proof obama and geithner are the laughing stock of anyone with common sense.
Autoshare makes certain YouTube activities public on the services you choose. Select only the services you are comfortable with - like Facebook, Twitter, or Google Reader - to let your friends know what you like on YouTube. You can turn Autoshare off at any time.