Washington Post,December 13, 2007 page D5

Fear on China side about the US economy apropos of the weak yuan to be related to China's holding US government securities of trillions of dollars worth of reserves in US Dollars. The fear on US side is the weak dollar and subprime lending crisis in the USA. US Treasury Secretary Paulson stated that China is a very significant part of the global economy and is to be integrated in terms of trading of goods and services and having a currency that is not market determined. Let us remember the globalization of all nations especially the impacts of USA and China. China's Vice Minister Wu told US officials that the press had hyped(hoopla) the safety problems, damaging the reputation with the implication that the American media are as pro-US as the Chinese state-media are pro-China. My comment: Equal opportunity for both nations with invested interests via media's bias in using the English language with varied interpretations. Language for understanding so Chinese should study English with the true meanings and Americans must learn Chinese language and culture for better understanding in the 21st century. "A Glimpse of the Chinese Language" in English is hereby dedicated for understanding of economics via the lifestyles,customs and traditions for mutual benefit in the 21st century. Such is desiderata,indeed!
On page D2: US Federal Budget deficit up 34.5% For November,the total amount was $98.2 billion,a record for the month. Trade Deficits increases as well: Commerce Department said the trade deficit, for October increased to $57.8 billion, the highest level since July, boosted by high oil prices and Chinese imports. The deficit with China jumped 9.1%, to $25.9 billion, a record for a single month. Some politicians blamed China for imported goods for trade deficits. My thoughts are with consumers in USA. It is common sense that folks are always interested in bargains to pay less to save money especially during the time of inflation caused by higher medical and health costs, energy costs plus insecure job opportunities. Charity starts at home and domestic needs are subject to the priorities of the leaders in the administration and in Congress. Let us wait and see the happenstance in the days to come. Mutual admiration on the positive is better than mutual accusation on the negative. Peace on earth and goodwill toward men and women on earth in this mundane word. Francis Shieh a.k.a. Xie Shihao. December 13, 2007