Clinton Asks China to Keep Buying US Treasuries
Monday, February 23, 2009 7:52
Hillary Clinton has asked China to keep buying U.S. debt and to work with Washington in combating the global economic crisis. Clinton was speaking Sunday before leaving Beijing at the end of a four-nation tour of Asia — her first overseas trip since taking office.
Clinton urged that buying treasuries would be in China’s interest as Washington is in desperate need to finance its debt in order to spur demand. Demand, which she says, which will also benefit the Chinese economy. China is the largest holder of U.S. Treasury bonds.
The meeting came weeks after former adviser to the Chinese central bank Yu Yongding said that China should seek guarantees that its $682 billion holdings of U.S. government debt won’t be eroded by “reckless policies.” Speaking about the then upcoming meeting with Hillary Clinton Yongding said “In talks with Clinton, China will ask for a guarantee that the U.S. will support the dollar’s exchange rate and make sure China’s dollar-denominated assets are safe…That would be one of the prerequisites for more purchases.”
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Ed says:
February 23rd, 2009 at 1:12 pm
“In talks with Clinton, China will ask for a guarantee that the U.S. will support the dollar’s exchange rate and make sure China’s dollar-denominated assets are safe…That would be one of the prerequisites for more purchases.”
Oh sure, I’m sure that will work out nicely… Let’s stop and coonsider for a moment the extent to which we’re all being sold down the river in return for this Chinese largesse (to Zombie Banks, not us)… Thing is, these wacky IllumiNazi’s don’t realize or can’t bring themselves to realize that China is, and will be, in less of a postion to buy more of this garbage than they have been for a decade.
It really is quite a funny sight watching al these maniacs thrash about as they realize the walls are closing in… they need a check up from the neck up from the good Doctor Roubini…