Asian stocks jump on US takeover of mortgage firms

Washington Post,Sept.9, 2008 page D2:
In recent weeks, officials from China's central bank(PBC) in particular had shared concerns about the future of their US mortgage-related debt - estimated at more than $300 billion - with US officials. During those talks, described as informal conversations between economic and central bank liaisons in Beijing and Washingon, Chinese officials expressed their desire for the US to act quickly and decisively, according to a source familiar with the talks. My comment: Readers can easily detect the decision of US takeover as a matter of mutual benefit to China's economy.
Eswark Prasad, a former IMF expert on China and a senior fellow at the Brookings Institution said: "I don't think concern for the Chinese was a very big factor in Treasury's decison. They were obviously far more concerned with the US financial system but a side effect of this is going to be that foreign debt holders and central banks find themselves on safer ground now." Readers can get the drift of such statement. My comment: It is certainly a matter of Sino-American economics in whatever way that readers would see their own scenarios with gigantic impacts and the effects in the days to come.
Page A8: Treasury secretary Henry Paulson is said to be the plan's principal architect. Administration decided in late August that takeover was needed. It is very clear that Paulson is very much interested in China's economy to be interwoven with US economy in the 21st century with his vision from the 20th century.

Francis Shieh a.k.a. Xie Shihao,an independent observer of Sino-American economics in action on September 9, 2008 at 1.48 p.m.