US pushing for more open markets in China (China Daily)

[highplainsdem]

http://www.chinadaily.com.cn/english/doc/2005-10/16/content_485260.htm


US pushing for more open markets in China
(chinadaily.com.cn)
Updated: 2005-10-16 09:12


The Bush administration's economic team is expected to argue for a quickening pace of China's financial market reform, and push the country wide open to foreign banks, investment firms and insurance giants.

<snip>

According to a document that Treasury officials plan to circulate among Chinese officials, the Bush administration would persuade Beijing to remove the limits on foreign ownership of its banks.

Also, foreign financial institutions that want to buy Chinese securities would be freed from having to have at least $10 billion in assets and to have been in business at least five years. Foreign-affiliated banks, brokerage firms and insurers would be freed from restrictions on setting up multiple branches at one time.

Secretary Snow has been arguing that China needs to learn from the Americans to get people to spend more and save less. Administration officials say that a financial overhaul plan would help make that happen in China.

<snip>

[pinniped]

1. WTF kind of shit is this?

--Secretary Snow has been arguing that China needs to learn from the Americans to get people to spend more and save less. Administration--

I remember this prick, he's the one who was said to create 1,000,000,000 ,000 jobs in one year.

[FloridaPat]

2. So saving money is not in the best interest of the government. Let's do it

Let's save all that money we have left after all those stupid taxes and not buy anything. That destroys the economy. Anyone else think the people running this country are nuts? What kind of stupid economic plan do we really have here? Debt to the eyeballs and everyone is happy?

[Larkspur]

3. They want us as wage slaves and under fear of going to Debtor prison

so from a psychopathic point of view, Snow is advocating sound robber baron policies. We are expendable to these psychos.

[BayCityProgressive]

4. The Chinese would be idiots to do this

Hoever the Chinese government now seems like capitlaists in socialist clothing so I am sure the US banks will get carte blanche to enslave the people.

[oblivious]

5. This is only fair to the US, to balance China's strength in manufacturing.

Banking, brokerage and insurance are America's stengths after all. But if China's banks had to compete in the real world, wouldn't the whole mess come tumbling down?

[anotherdrew]

6. like there's any way in hell china will comply with this asinine demand

let's sell our banks first, I think China has the money to buy a few

[mbperrin]

7. Open Markets? You mean like when the US wouldn't allow the

Chinese oil company to buy an American one? Where the American bidder saved billions by using government interference to close the market to the Chinese? THAT kind of open market?..........

[Pithy Cherub]

8. Snow: "learn from America to spend more and save less..."

talk about catapaulting the propaganda - America is failing due to that very stupid practice and the secretary of the treasury wants to export failure everywhere! Aw geesh, just when you though the bushbots were certifiably insane they show you a level below! :crazy::scared::crazy: