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Location: On the "Left Coast", somewhere in "the Land of Fruits & Nuts"
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Quote:
Originally Posted by Miborn
China’s Leader Says He Is ‘Worried’ Over U.S. Treasuries
Mr. Wen said that he was “worried” about China’s holdings of United States Treasury bonds and other debt, and that China was watching economic developments in the United States closely.
As the financial crisis has unfolded, China has become increasingly vocal about what it perceives as Washington’s mismanagement of the global economy and financial system, joining a chorus of foreign critics of unbridled American capitalism.
On Thursday, for example, France and Germany rebuffed American calls to coordinate a global stimulus package at the G-20 meeting, saying financial regulation should come first.
In January, Mr. Wen gave a speech criticizing what he called an “unsustainable model of development characterized by prolonged low savings and high consumption.”
There was little doubt that he was referring to the United States.
“President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said.
Well, perhaps Mr. Wen hasn't noticed that Europe has also taken similar "measures" lately, including Britain's infusion of $100 billion, Germany's $97 billion, and Spain's $115 billion public-works-led program (equivalent to 8.1% of GDP compared to the U.S. package @ 5.5% of total GDP).
Wen's statements are especially curious, considering how much his country has prospered, and in fact currently depends on western "consumption". China unemployment a serious problem-Wen - Forbes.com (http://www.forbes.com/feeds/afx/2009/03/13/afx6163265.html - broken link)
Well, perhaps Mr. Wen hasn't noticed that Europe has also taken similar "measures" lately, including Britain's infusion of $100 billion, Germany's $97 billion, and Spain's $115 billion public-works-led program (equivalent to 8.1% of GDP compared to the U.S. package @ 5.5% of total GDP).
Wen's statements are especially curious, considering how much his country has prospered, and in fact currently depends on western "consumption". China unemployment a serious problem-Wen - Forbes.com (http://www.forbes.com/feeds/afx/2009/03/13/afx6163265.html - broken link)
So he shouldn't be worried about the US defaulting?
Wen has massive umemployment at home to contend with, and his comments are just same the old distraction tactic that the GOP has always used ("Gays, Immigrants, Abortion, look over here!").
Besides, like the current rash of near-hysterical 'wingers shouting "Obama's a Socialist" and "the sky is falling", all of these naysayers might have more credibility if they had been this vocal earlier, when Bush was running up debt like a drunken sailor.
Don't you think it's silly to bite the hand that feeds you and your spendaholic tendencies?
How many Daddy's girls do you know treat their father's with respect? China is spoiling us! How many spoiled, rich kids do you know who treat anyone with respect? Thus, the spoiled brat treats the father with complete disrespect, demanding more, more, more! We are a nation of shopping addicts and China's our enabler. They'd rather spend the money on us than their own people b/c they are more careful w/ how they spend their money and we are reckless.
One would think the conservatives might have stood up and complained while they were borrowing like drunken sailors at a brothel from China. Its not like we racked up all this debt with China in 57 days... hello anyone home?
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