Feb 13, 2009 0
We’re in the show your cards stage of the shell game that we’ve been playing for a while – the greater part of more than a decade. It feels like we’ve been played but that’s only because we’re not really the players – we’re the pawns in a high stakes game.
Consider one of the players – China. Now, note how the headlines changed in a matter of weeks:
Jan 8, 2009 – U.S. debt is losing its appeal in China
At first glance, the declining Chinese appetite for U.S. debt -apparent in a series of hints from Chinese policy makers over the past two weeks, with official statistics due for release in the next few days – comes at an inopportune time. On Tuesday, the U.S.president-elect, Barack Obama, said Americans should get used to the prospect of "trillion-dollar deficits for years to come" as he seeks to finance an $800 billion economic stimulus package.
Feb 11, 2009 – China to stick with US bonds
Mr Luo, speaking at the Global Association of Risk Management’s 10th Annual Risk Management Convention, said: