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ft.com - 2/12/2009

FT.com / Companies / Financial Services - China to stick with US bonds

— ft.com — China will continue to buy US Treasury bonds even though it knows the dollar will depreciate because... such investments remain its “only option” in a perilous world, a senior Chinese banking regulator said on Wednesday. China has used the dollars it ... (more) FT.com / Companies / Financial Services - China to stick ...

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ipsnews.net - 2/18/2009

ECONOMY: China Warns Against Protectionism

— ipsnews.net — China Warns Against Protectionism By Antoaneta Bezlova BEIJING, Feb 2 (IPS) - China is worried that the... lingering financial crisis could unleash a spiral of protectionist policies across the globe, which could further dent its trade-dependent ... (more) ECONOMY: China Warns Against Protectionism

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mudvillegazette.com - 2/18/2009

Your Doing it Wrong...

— mudvillegazette.com — ... When even Russia tells you so "We must not revert to isolationism and unrestrained economic egotism...... Excessive intervention in economic activity and blind faith in the state's omnipotence is another possible mistake. True, the state's increased role in times of crisis is a natural ... (more) Your Doing it Wrong...

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Comments vote downundo vote up Greyhawk posted 2/18/2009posted this

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China Needs U.S. Guarantees for Treasuries, Yu Says
Democratic Underground Latest Breaking News — ... investing would focus on safeguarding the value of China’s $1.95 trillion foreign reserves. China may voice its concerns over U.S. government finances and the potential for a weaker dollar when Secretary of State Hillary Clinton visits China on Feb. 20, according to He Zhicheng, an economist at Agricultural Bank of China, the nation’s third-largest lender by assets. A People’s Bank of China official, who didn’t wish to be identified, declined to comment on the telephone. Read more: http://www.bloomberg.com/apps/news?pid=20601080 ...

When you owe the bank $30,000...
SCSUScholars — I was talking with Ed Morrissey before his show today -- which, by the way, was screamingly funny and good so go listen -- and he was telling me about a post he did about a Chinese official who said that China is pwn3d by the U.S. treasury. Luo Ping, a director-general at the China Banking Regulatory Commission, said after a speech in New York that China would continue to buy Treasuries in spite of its misgivings about US finances. Mr Luo, speaking at the Global Association of Risk Management’s 10th Annual Risk Management Convention, said: “Except for US Treasuries, what can you hold?” he asked. “Gold? You don’t hold Japanese ...

The difference between owing $30K and $3 trillion
Hot Air » Top Picks — The difference between owing $30K and $3 trillion posted at 10:30 am on February 15, 2009 by Ed Morrissey Send to a Friend | Share on Facebook | printer-friendly Yesterday, when King Banaian, Mitch Berg, and I sat in the Green Room waiting for NARN II to start, I pointed out my post on China’s remarks to both.  I especially wanted to get King’s reaction to China’s admission that they had no other option but to stick with US Treasuries, even with the dollar almost certain to depreciate thanks to the enormous debt we’re adding through TARPs and Porkulus. King told me this aphorism: When you owe the bank $30,000, they own you. When you owe the ...