Washington Post,Feb.9,2010 Page A1 Headlines:
"FED Chairman Ben Bernanke is betting that if the central bank is open about how it will phase out its expansive initiatives to prop up the economy, it will provide faith that the FED will not allow inflation to flare down the road."
My comment: FED is responsible for monetary policy on the basis of Irving Fisher's "Quantity Theory of Money/Equation of Exchange" as published in the Atlantic Economic Journal in 1970s. I have mentioned such in my prior blogs i.e. MV=PQ with updated repercussions.
Barry Eichengreen,Professor of Economics and Political Science published "The Dollar Dilemma": "The US government finds it easy to finance its current account deficit: the the foreign central banks that buy its debt securities are a kind of captive market. Insofar as, so long as demand is high -US interest rates are lower than they would be otherwise." In other words, China is a major buyer of US securities and such etiology is clearly evident for Sino-American economics of the real world with global context.
Francis Shieh a.k.a.Xie Shihao, the life-long learner of Economics in USA to be relevant to China since 1947 to date.
February 9, 2010 at 3.12 p.m.
Such is cited in "Keys for Economic Understanding" www.ask.com for reference.
Page C10: Learning a foreign language."A Glimpse of the Chinese Language" is dedicated to those who wish to learn a language of art and music. Such work is available free at pdf format at www.rand.org for information.