Word: china
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Dates: during 2000-2009
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Richard Fisher, president of the Dallas Federal Reserve Bank, just returned from a trip to China, where, he told the Wall Street Journal, "senior officials grilled me about whether or not we are going to monetize the actions of our legislature. I must have been asked about that a hundred times...
...Geithner concluded his maiden journey to China as Treasury Secretary on Tuesday by meeting the two most powerful men in the nation that is the biggest creditor of the United States: President Hu Jintao and Prime Minister Wen Jiabao. The man whose name now graces dollar bills in the United States was, in effect, meeting his bankers. But if those two pressed the Treasury Secretary about whether their government's huge investments in the U.S. are safe - the way some of their colleagues "grilled" Fisher, Geithner's former colleague on the Federal Reserve Board - it's a secret. Indeed...
...concern of the Chinese is not a figment of anyone's imagination. It was just in March, in fact, that Premier Wen himself prodded Washington for reassurance. At the annual meeting of China's National People's Congress in Beijing, Wen said, "We have lent a massive amount of capital to the United States, and of course we are concerned about the security of our assets. To speak truthfully, I do indeed have some worries. So I call on the United States to maintain its creditworthiness, abide by its commitments and ensure the security of China's assets." (Read...
...rates demonstrates nothing except a market beginning to return to normalcy, not one getting spooked by fears of inflation. Consider that so-called TIPS - inflation-protected bonds - yield 1.5% on the five-year bond and just 1.9% on the 10-year. No sign of incipient inflationary panic there. To China and to everyone else watching, the U.S. would cite that as progress - and reasonably...
...just yesterday - fortuitous timing for Geithner - both the U.S. and China reported economic data that buoyed equity markets on both sides of the Pacific. In China, the monthly purchasing manager's index for manufacturing was stronger than expected, showing "for the first time that policy is really gaining traction [in China]," says Eric Fishwick, head of economic research at CLSA Asia Pacific Markets in Hong Kong. At the same time, in the U.S., data showed that personal income in April rose 0.5%, an encouraging number. On a day when General Motors, once the world's largest industrial corporation, declared bankruptcy...