Washington Post, June 2, 2009 on page A10:
US Treasury Secretary Timothy F. Geithner sought to reassure China, America's biggest creditor, that its hundreds of billions of dollars of holdings in US government debt remain safe, even as investors dumped Treasurys amid signs that the global recession is easing.
The United States is committed to a strong and stable international financial system, and the Obama administration fully recognizes that the US has a special responsibility to play in this regards, and we fully appreciate that exercising this special responsibility begins at home." Geithner studied Chinese at Beida, i.e.Peking University in the 1980s. "A Glimpse of the Chinese Language" was published in 1965 for such reference. Visit www.rand.org to obtain a free pdf copy as public service.
China is by far the largest purchaser of US Treasurys and about 82% of its $2 trillion of foreign reserves are estimated to be in dollars. I sent my blogs in the past that China has confidence in the United States as a friendly nation in the world.
Francis Shieh aka Xie Shihao, an octogenarian graduate student from China to study American culture including Economic culture since 1947 but taught Chinese language and Chinese culture to Americans to serve as a living bridge across the Pacific Ocean for cultural exchange as my goal in life. Thanks for your time in reading to stay informed about US-China economic relations in the 21st century.
Tuesday,June 2, 2009 at 10.26 a.m.
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