The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

China to America: We hate you. You are devaluing your own currency with your spending. We are not buying any more American debt.

Posted by iusbvision on February 14, 2009

We told you that China was balking. Can’t blame them. As the man says, people will only buy our debt if we can show them that we are running our financial house with some sanity. We aren’t. There will be serious economic consequences.

UPDATE: Hillary asks China to keep buying our debt.

US Secretary of State Hillary Clinton Sunday urged China to keep buying US debt as she wrapped up her first overseas trip, during which she agreed to work closely with Beijing on the financial crisis. Clinton made the plea shortly before leaving China, the final stop on a four-nation Asian tour that also took her to Japan, Indonesia and South Korea, where she worked the crowds to try to restore America’s standing abroad.

In Beijing, she called on authorities in Beijing to continue buying US Treasuries, saying it would help jumpstart the flagging US economy and stimulate imports of Chinese goods.

“By continuing to support American Treasury instruments the Chinese are recognising our interconnection. We are truly going to rise or fall together,” Clinton said at the US embassy here.

Clinton had sought to focus on economic and environmental issues in Beijing, saying Washington’s concerns about the human rights situation in China should not be a distraction from those vital matters.

Beijing’s human rights record emerged nonetheless as an issue, as Chinese activists on Saturday reported being harassed or intimidated by Chinese authorities in a bid to stop them speaking out or meeting Clinton while she was here.

“Plainclothes police blocked me from leaving my home. They were afraid I would try to meet with Hillary Clinton or others in her delegation,” democracy campaigner Jiang Qisheng told AFP by phone on Sunday.

Clinton and Chinese Foreign Minister Yang Jiechi largely agreed to disagree on human rights as they pledged future joint action on the economy and climate change.

http://www.breitbart.com/article.php?id=CNG.42a44b0f5d9cf5c9762e80574e79a3d5.831&show_article=1

2 Responses to “China to America: We hate you. You are devaluing your own currency with your spending. We are not buying any more American debt.”

  1. Angelo said

    I wonder if the meaning of hate is lost in cultural translation. Maybe ‘hate’ really means “being overly concerned for,” like when a companion says, “I hate what you’ve done with…(the place),” it doesn’t always mean hatred but more like disapproval or shock.

    [Indeed, but they aren’t pleased and as much as I hate to say it, in this case they are justified – Editor]

  2. […] You are devaluing your own currency with your spending. We are not buying anymore American debt.” China to America: We hate you. You are devaluing your own currency with your spending. We are not bu… __________________ "We are what we repeatedly do. Excellence, therefore, is not an act […]

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