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Posts Tagged ‘United States’

This is really funny. It seems that capitalist United States is hoping that Communist China doesn’t act like a capitalist and unload U.S. government debt.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=anZHfo6tQi60

Asia Needs Deal to Prevent Panic Selling of U.S. Debt, Yu Says

By Kevin Hamlin

Sept. 25 (Bloomberg) — Japan, China and other holders of U.S. government debt must quickly reach an agreement to prevent panic sales leading to a global financial collapse, said Yu Yongding, a former adviser to the Chinese central bank.

“We are in the same boat, we must cooperate,” Yu said in an interview in Beijing on Sept. 23. “If there’s no selling in a panicked way, then China willingly can continue to provide our financial support by continuing to hold U.S. assets.”

An agreement is needed so that no nation rushes to sell, “causing a collapse,” Yu said. Japan is the biggest owner of U.S. Treasury bills, holding $593 billion, and China is second with $519 billion. Asian countries together hold half of the $2.67 trillion total held by foreign nations.

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I’m not an American and I definitely have no foreign policy experience, but from her interview, hmm….. Well see for yourself.

note: the previous video in this article has been replaced with a new one since the previous one is no longer available on youtube

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