Originally Posted by numan
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Wen puts US honor on the debt line

Quote
Various efforts by the US to resolve the country's financial crisis by selling ever more debt to pump money into the financial system are raising concern that this will drive up inflation and pull down the value of the US dollar, which would cut the value of debt held by China, the largest creditor of the US.

[SNIP]

"We are very concerned about the economic developments in the US economy," Wen said....

Wen called on the US government to ensure that the value of Chinese assets in the US is maintained amid the crisis.

"We have lent a huge amount of money to the United States and of course we're concerned about the security of our assets and, to be honest, I am a little bit worried"....

[SNIP]

As the global financial crisis sends asset values plunging, mainland leaders are under growing pressure at home to diversify the country's foreign exchange reserves.

TRANSLATION:

"China must get rid of its dollar assets as quickly as possible, but without precipitating a collapse of the US dollar." Good luck with that!

I saw his comments today. I don't think it has anything to do with a concern over their dollar holdings. They would have seen that situation developing long before now. Besides, it way too blunt to be taken at face value. I think, sly wrascals that they are, that they are playing their one strategic strength in response to President Obama's sending a warship to the South China Sea as protection for a US intelligence gathering ship and a show of support for maintaining open sea lanes.

My translation: Don't make Beijing lose face by playing to your home audience or we will make things difficult for you in other areas. Have a nice day.:-)
Yours,
Issodhos
P.s. Humorous aside: The name of the US destroyer sent to protect the USNS Impeccable? The USS Chung-Hoon.:-)

"When all has been said that can be said, and all has been done that can be done, there will be poetry";-) -- Issodhos