China, the largest foreign investor in U.S. government securities, joined Russia in criticizing American policy makers for failing to ensure borrowing is reined in after a stopgap deal to raise the nation's debt limit. People's Bank of China Governor Zhou Xiaochuan said China's central bank will monitor U.S. efforts to tackle its debt ... "China hopes the U.S. administration and the Congress would take responsible policy measures to handle its debt issue," Zhou said. He highlighted the global role of U.S. Treasuries, saying that any "large fluctuations and uncertainties" in the market for the securities would undermine financial stability and hinder the world economic recovery. Russian Prime Minister Vladimir Putin said two days ago that the U.S. is in a way "leeching on the world economy." – Bloomberg
Dominant Social Theme: US politicians have got to act responsibly.
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3 comments:
We should be comforted by the fact that China will now be "monitoring" our financial stability. Millions of people still live in CAVES in China, but we have fell so far down the food chain that CHINA now lectures us. thank you obama. Heckeva job you're doing! Sterling credit for 200 years. Obama ruins it in less than 3.
As soon as these guys stop buying our treasury bonds...GAME OVER.
The whole world hates liberal spending.
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