China "worried" about US Treasury holdings

[RamboLiberal]

Source: My Way News/AP

China's premier expressed concern Friday about its massive holdings of Treasuries and other U.S. debt, appealing to Washington to safeguard their value, and said Beijing is ready to expand its stimulus if the economy worsens.

Premier Wen Jiabao noted that Beijing is the biggest foreign creditor to the United States and called on Washington to see that its response to the global slowdown does not damage the value of Chinese holdings.

"We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried," Wen said at a news conference following the closing of China's annual legislative session. "I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."

Wen's comments foreshadowed possible appeals to President Barack Obama, who will meet with Chinese President Hu Jintao at a London summit of leaders of the G-20 group of major economies on April 2 to discuss the global financial crisis.



Read more: http://apnews.myway.com/article/20090313/D96T37FO0.html

[bemildred]

1. Hint, hint, nudge, nudge. nt

[L. Coyote]

2. So is everyone else. But those holding Treasuries are happy compared to stocks

And with the crash in the real estate market, they are even happier than the traditional real estate investors.

[Deja Q]

3. If America started making more goods to sell, would that make our treasuries worth something?

[MISSDem]

4. It always scares me when I'm reminded how much of our paper

China holds. Like it says in the article if they decided to cash it in it would crash the market.

[AlphaCentauri]

5. They are testing the new administration