Comments on: China slams U.S. profligacy

By: China buys gold that the IMF and others are selling… (update)

China buys gold that the IMF and others are selling… (update) — Sat, 25 Apr 2009 09:06:56 +0000

[...] but the damage was done and the Chinese went on a rampage, savaging the U.S. at Davos (Geithner: 28 Jan 2009 post ; World Economic Forum: 29 Jan 2009 [...]

By: Silverbids.com » Blog Archive » Wily: China has been secretly stocking up on gold

Sat, 25 Apr 2009 05:05:44 +0000

[...] but the damage was done and the Chinese went on a rampage, savaging the U.S. at Davos (Geithner: 28 Jan 2009 post ; World Economic Forum: 29 Jan 2009 [...]

By: Ranger Turtle

Ranger Turtle — Fri, 30 Jan 2009 19:22:51 +0000

I, too, listened to Premier Wen, and thought he was correct in facts but lacked diplomacy.
My belief is that both countries are trying to fend off protectionism. Protectionism during bad economic times can be interpreted as aggressive. Let’s hope Pres.Obama and Prem.Wen can tone it down.

By: lark

lark — Fri, 30 Jan 2009 01:13:38 +0000

“Free market” plus current account deficits have resulted in a global labor arbitrage. Americans went into debt because their wages did not rise with productivity. Why? Because of low wage competition overseas.

It seems to me the illness we face has much to do with the open markets that have been foisted on the first world workers. As a corrective, a bracing course of protectionism may be what is good for us in the long run.

By: Bisant (Peter Timmer)

Bisant (Peter Timmer) — Thu, 29 Jan 2009 18:08:20 +0000

I’d say Premier Wen is pretty much ‘on the money’ in Davos http://tinyurl.com/an3nsd

By: Emma

Emma — Thu, 29 Jan 2009 14:21:48 +0000

Hmmm, I dunno. When your primary banker is giving you a talking to, is it really wise to ignore what they have to say? I think most of what Wen had to say about the pre-crisis financial culture in the US is spot on. Not only that, I suspect Obama agrees with him.

In my opinion, the Obama administration needs to consider not only the economic ramifications of having China as their primary lender but also the potential national security issues that may entail. I suspect the US needs to get up, dust itself off and get back to work in order to earn back the respect of the Chinese and make them feel that the trillions of dollars they have invested in that country was worth it AND to prevent them from hitting the red button. They CAN manipulate the situation through their currency. It’s their nuke, so to speak, and they can have their finger approach that red button whenever they want.

Could be that the Obama administration was sending a signal to let them know that they are aware of the red button while at the same time Obama’s speech addressed the economic concerns that China has for the US by letting them know he gets it, on all fronts.

I’m just speculating of course, it’s such fun. :)