China’s Leader Says He Is ‘Worried’ Over U.S. Treasuries
March 13th, 2009Remember what I said about the “Leader Board of Doom”?
I have a sort of “Leader Board of Doom” that I watch closely. This is the order:
Britain
U.S. Treasuries
Japan
China
California
Mexico
Bond and note auctions continue in an orderly manner.
Via: New York Times:
The Chinese premier Wen Jiabao expressed concern on Friday about the safety of China’s $1 trillion investment in American government debt, the world’s largest such holding, and urged the Obama administration to provide assurances that its investment would keep its value in the face of a global financial crisis.
The Chinese premier Wen Jiabao spoke at a news conference on Thursday at the end of the Chinese parliament’s annual session.
Speaking at a news conference at the end of the Chinese parliament’s annual session, Mr. Wen said he was “worried” about China’s holdings of Treasury bonds and other debt, and that China was watching United States economic developments closely.
“President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said. “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.”
He called on the United States to “maintain its good credit, to honor its promises and to guarantee the safety of China’s assets.”
Mr. Wen raised the concerns at a session in which he touted China’s comparatively healthy economy and said that his government would take whatever steps were needed to end the country’s economic slump. He also predicted that the world economy would improve in 2010.
I’m curious why you place California over Maxico in the collapse chain. I would expect Mexico tgo go down first.