Guest Post: Why China Is Holding All That Debt
January 31, 2013 - 2:56pm
Via John Aziz of Azizonomics blog, What does it mean that China is making a lot of noise about the Federal Reserve’s loose monetary policy? Via Reuters: A senior Chinese official said on Friday that the United States should cut back on printing money to stimulate its economy if the world is to have confidence in the dollar. Asked whether he was worried about the dollar, the chairman of China’s sovereign wealth fund, the China Investment Corporation, Jin Liqun, told the World Economic Forum in Davos: “I am a little bit worried.” “There will be no winners in currency wars. But it is important for a central bank that the money goes to the right place,” Li said. At first glance, this seems like pretty absurd stuff. Are we really expected to believe that China didn’t know that the Federal Reserve could just print up a shit-tonne of money for whate...
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