Posted on 05/20/2010 7:25:01 AM PDT by C19fan
Europe's debt crisis has laid bare the fragility of global finances and the United States, too, must tame its fiscal deficit, a senior Chinese official said on Thursday, spelling out Beijing's concerns before talks with Washington. With China facing U.S. criticism for yoking its currency to a de facto dollar peg, Assistant Finance Minister Zhu Guangyao shifted attention to Beijing's own worries about the euro zone's woes and Washington's rising indebtedness, ahead of the two countries' Strategic and Economic Dialogue next week.
China wants "quiet discussions" about exchange rate issues, and loud lobbying will only delay movement on the yuan, Zhu told a news conference.
(Excerpt) Read more at reuters.com ...
It is sobering to realize that I hope China succeeds in instilling fiscal discipline on obama and the US congress-
both parties
Before China too collapses. As it will. Demography is destiny.
Their idea of fixing the deficit is huge tax increases “on the wealthy,” not cutting spending.
Chinese Communists lecturing American Communists..aka..Democrats. Amazing.
Chinese Communists lecturing American Communists..aka..Democrats. Amazing.
It’s interesting that our dim-bulb-crats are so stupid that they need capitalism lessons from communists - who apparently far better understand the complexities of private enterprise.
Ivy league educations, indeed.
And let’s remember, that the liberal brain-dead disease is creeping into our science.
Sorry China...no can do...democrats are running the country right now.
at least the Chicoms have bounced off the wall of reality- they are now “state capitalists”
Communist politically, fascist economically, and bankrupt morally
A perfect model for US “moderate” democrats
Humiliating or not, our government should be listening and doing as their told in this case. We are trying to tell them the same thing and they passed health care which will bankrupt us. Maybe a little encouragement from our debt holders will make them think.
I like that analogy.
Not so, if American peasants dont have money, we can’t buy their electric cars and other stuff
and there goes 50 years of Chinese effort and money locking up world commodities so they can manufacture stuff to export
Well DC if you will not listen to US will you at least listen to your bankers?
That’s good advice.
The ‘Public Market”??
If they dont have markets abroad for their stuff, they will stall and stagnate
The Chinese are going to turn the corner demographically and become, like Japan, Euroep, and the West... an aging society...thanks to their population control policies and cultural practices of killing females and the growing affluence of their own citizens
Not everyone in the world can count on India to buy their stuff in the mid-latter half of this centuri
After that one time shot, then what?
I mean, its not like 1] there will still be “wealthy” and 2] Those who are, will leave or hide their wealth.
And good for them.
[Full disclosure: I am NOT wealthy, won’t become wealthy and other than satying at a Holiday Inn Express, have no connection to wealth.]
Put our fiscal house in order? No time for that, Zhu! We have to bail out Greece and Portugal and Italy and Spain. And then Germany and France and....
By the way, Zhu. We need to issue a little more debt. Interested?
This is what happens when we owe them almost $1 trillion. Even SNL knows it (overlook the brief bush bash, which is inaccurate):
http://www.youtube.com/watch?v=gCh90AVh9J4
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