posted on Jul, 29 2009 @ 03:09 PM
"Suddenly, it was U.S. officials who were promising deep reform to their disgraced economic system rather than demanding it from incompetent
foreigners. President Barack Obama’s economic team of Clinton-era holdovers, who a decade ago had hectored China on the virtues of fiscal
responsibility, now were falling over themselves to reassure the Chinese that their $1.5 trillion stake in U.S. government-issued securities is safe,
and that they should buy more at this week’s $200 billion Treasury auction. If they don’t, we’re in big trouble."
I wonder what the Chinese would plan to do if we can't get our ducks in a row; simply pull out of their investments or take more of an American style
approach fto force compliance. Interesting the way the world has been turning lately.
Sorry if I did this wrong...this is my first thread on this site...tried to follow the rules. Couldn't find any way to do the "snippet from source"
thing, but everything should be cited correctly anyways.