Korean Job Discussion Forums

[RJjr]

"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.

His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.

The Beijing-based Global Times greeted Geithner by publishing a survey of Chinese economists who called big holdings of U.S. debt "risky."

http://www.gata.org/node/7461

The U.S. needs a higher savings rate and a smaller deficit on the current account, which is the broadest measure of trade, or �another financial crisis triggered by a dollar crisis could be inevitable,� the Chinese academic said.

Referring to the Federal Reserve �as the world�s biggest junk investor,� and to Chairman Ben S. Bernanke as �helicopter Ben,� Yu said the Fed has dropped �tons of money from the sky since the subprime crisis.�

�The balance sheet of the Federal Reserve not only has expanded like mad but is also ridden with �rubbish� assets,� he said

http://globaleconomicanalysis.blogspot.com/2009/06/former-chinese-central-bank-advisor.html

[visitorq]

Let them laugh. And good luck trying to get rid of ~2 trillion USD and starting over. Basically the Chinese owe everything they have to American demand of all their cheap, crappy products; and they owe us in turn, at the end of the day, to spend that money on American goods and services and keep trade balanced. If they don't like it, too bad. They won't be laughing for long if the dollar crashes, their economy will come tumbling right after.

[mises]

I laugh any time he or Obama or whoever else (Barney Frank is quite good for this) open their mouths and mumble about the economy.

"We have a strong dollar policy". Ha. Hang him by his thumbs.

[mole]

I don't find it laughable. How long will the Chinese continue to cater to US?
How long can our representative government get away with [misleading] them?
The attitude that we'll just take China down along with us certainly isn't a noble one.

[mises]

China is in a tough spot, but I don't think she is without exits.

Already she is moving towards short term T's, away from long, which looks like a move to flexibility. They may be planning an out.

I suspect they'll continue pile up gold, Euro's and others for a while until they are sufficiently satisfied that a dollar collapse won't totally screw them. The CCP is a long-term orientated organization, unlike the governments in the US.

[Hater Depot]

[RJjr]

[RJjr]

[Rusty Shackleford]

[rollo]

China produces no hi-tech goods! it pirates western tech and that is of very poor quality so they need U.S. technology badly. As far as Peking University students they actually know very little about economics or what is going on in the world. They have been told that everything is fine in China and the U.S. is headed for destuction. The chinese economy is faltering badly at this time. I agree with much of what is said about how the U.S needs to change its debt to savings ratio. I do believe that some steps have been taken in that direction. On the collapse of the dollar I dont believe we are near that point yet.

[mises]

[bucheon bum]

[Kuros]

[visitorq]

[rollo]

Mises with all due respect to you on this issue. You certainly know a lot more bout economics than I do. The students that attended graduate school with you are the elite. Mostly they did not attend regular schools but often had private tutors or attended school abroad. I worked with a graduate of peking University and he was stunned to learn that Tokyo was in japan. What I was refering to was the average student.

Poverty in China is not caused by U.S. monetary policy. A look at Chinese policy would show that U.s. policy is in response to the Chinese keeping the Yuan at an artiical low.