Archive for the ‘Dollar’ Category

Chinese assets are safe. Guffaw.

by Team Politics
Monday, June 1st, 2009

What else is Geithner going to say about the value of the dollar? Still, the audience’s response is scary.

“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 skepticism 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.