Tim Geitner tells Chinese audience "Chinese financial assets are very safe", Chinese laughed at him
- BEIJING, June 1 (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday reaffirmed his faith in a strong dollar and reassured the Chinese government that its huge holdings of dollar-denominated assets are safe."We believe in a strong dollar," Geithner said in a question-and-answer session after a speech to students at Peking University. [ID:nPEK144756]
A major goal of Geithner's maiden visit to China as Treasury secretary is to allay Beijing's concerns that Washington's mushrooming budget deficit and ultra-loose monetary policy will undermine both the dollar and U.S. bonds. China is the biggest foreign owner of U.S. Treasury bonds.
"Chinese financial assets are very safe," Geithner said. His response drew laughter from the audience....
The Chinese Students thought maybe they had been teleported to a Jon Stewart Daily show. Even we Americans laugh when Stewart calls out the politicians and Kramerlike people when he shares a boldfaced lie. Stewart then backs up his facts with facts... and we all laugh. (So we don't cry apparently)
ReplyDeleteThe Chines students know a joke when they hear one.
Contrary to popular to belief, Chinese students heads do not screw on, even though they design the robotic heads that do.
different people says differently i guesses it points down to fundamentals and analysis given to todays's unpredictable environment .
ReplyDeleteApparently China's economy appears to be relatively strong in the near future .