City Guide
Answers
Login
Home
/
Community
/
Forums
/ Post a Reply
Post a Reply
Thread: why do you think China have to lend the US a Trillion dollars?
Title:
(100 characters at most)
Content: ( 3,000 characters at most, please )
You can add emoticons below to your post by clicking them.
[quote=YENJAMES,363629]And the call for some magical solution to the problem of China's excess of dollars suggests something else:... China's leaders haven't come to grips with the fact that the rules of the game have changed in a fundamental way. Two years ago,... China could save much more than it invested and dispose of the excess savings in America. That world is gone. Yet the day after his new-reserve-currency speech, Mr. Zhou gave another speech in which he seemed to assert that China’s extremely high savings rate is immutable, a result of Confucianism, which values “anti-extravagance.” Meanwhile, “it is not the right time” for the United States to save more. In other words, let's go on as we were. That's also not going to happen. The bottom line is that China hasn't yet faced up to the wrenching changes that will be needed to deal with this global crisis.[/quote]
characters left
Name:
Get a new code
Copyright © 1998-2025 All rights reserved.