
“Chinese assets are very safe”
This remarkable assertion regarding the safety of US debt securities held by China was made by Timothy Geithner, US Treasury Secretary, during his visit to China. That Mr. Geithner felt compelled to make this statement probably reinforced the unease China has about the finances of the United States. If the Chinese assets were actually “safe” and everyone knew it, there would have been no need to say that they were safe.
Mr. Geithner’s denial brings to mind another famous denial made by Richard Nixon during the Watergate affair - “I am not a crook”. We all know how that turned out. If it wasn’t obvious that everyone knew Nixon was a crook, he would not have had to deny it. If US assets are really safe, Geithner would not have to say that they are safe. (Learn more at)
U.S. treasury chief pursues closer economic ties with China
http://www.chinaview.cn/ 2009-06-01 12:53:34
BEIJING, June 1 (Xinhua) -- U.S. Treasury Secretary Timothy Geithner is making the most of his first Beijing visit to pursue a closer economic ties with China.
Geithner spent Monday in a flurry of meetings with China's top economic team, including Vice Premier Wang Qishan and chiefs of finance, commerce, banking and securities.
Saying Geithner's visit covered wide-ranging issues, Wang stressed "the foremost subject coming to my mind is the economic dialogue of the first Strategic and Economic Dialogue."
The new dialogue mechanism came out of the first meeting between President Hu Jintao and President Barack Obama in April in London.
Its strategic track will be chaired by Chinese State Councilor Dai Bingguo and U.S. Secretary of State Hillary Clinton, while its economic track will be chaired by Wang and Geithner, as special representatives of their respective presidents.
"Our economic dialogue should be comprehensive, strategic and long-term, strengthen our communication and coordination on hot-button economic issues," Wang said in a statement issued by the Chinese Foreign Ministry.
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