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China ‘Worried’ Over Safety of U.S. Debt, Wen Says

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donsutherland1

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China's Premier Wen Jiabao expressed concern about the safety of China's holdings of U.S. Treasury securities at a time when the U.S. is borrowing record sums of money to finance its budget, efforts to stabilize the banking system, and fiscal stimulus package.

Bloomberg.com reported:

China, the U.S. government’s largest creditor, is “worried” about its holdings of Treasuries and wants assurances that the investment is safe, Premier Wen Jiabao said.

“We have lent a huge amount of money to the United States,” Wen said today at a press conference in Beijing that marked the closure of the annual National People’s Congress meeting. “Of course we are concerned about the safety of our assets. To be honest, I am a little bit worried. I request the U.S. to maintain its good credit, to honor its promises and to guarantee the safety of China’s assets.”
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http://www.bloomberg.com/apps/news?pid=20601087&sid=a.z1.V13_8G0&refer=home
 
A fair concern given our current situation. Hopefully Obama will use his diplomatic skills to give out Chinese debtors some confidence that our government and economy will remain intact. He should spread a little "hope" in their direction.
 
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