U.S. loans

China Urges U.S. to Take Responsible Action on Debt

As the U.S. Congress and Obama Administration are engaged in a protracted and bitter battle over the federal budget and debt ceiling, China, the United States’ largest creditor, is also getting involved. From the New York...

CIC Set for up to $200bn in Fresh Funds

China Investment Corp., the official sovereign wealth fund, is going to receive between $100-200 billion in new funds from the government. From the Financial Times: CIC, which has already fully allocated the $110bn it had...

China Says Foreign Reserves not Political `Weapon’

From AP: China tried Wednesday to allay concern about the political impact of its $2.5 trillion foreign reserves, saying they are not a “nuclear weapon” to control other nations and its vast holdings of U.S. Treasury...

Robert Scheer: Don’t Blame China

On Truthdig (via The Nation), Robert Scheer argues that those blaming China for the global financial woes are off-base: Citigroup led the way into the massive marketing of toxic collateralized debt obligations that has brought...

Geithner Tells China Its Dollar Assets Are Safe (Updated)

The Washington Post reports on Timothy Geithner’s visit to China: U.S. Treasury Secretary Timothy F. Geithner arrived in China this week seeking to reassure America’s biggest creditor that its hundreds of billions of...

Wary of U.S. Debt, China Shifts Gears on Investment

Reuters reports on the shifting economic relationship between China and the U.S.: Beijing has been far and away the single biggest foreign buyer of Treasuries over the past year, but this apparent vote of confidence belies how...

Paul Krugman: China’s Dollar Trap

New York Times columnist and Nobel laureate Paul Krugman writes about China’s accumulation of U.S. securities: Two years ago, we lived in a world in which China could save much more than it invested and dispose of the...

China Losing Taste for Debt From the U.S.

China is less willing to take on U.S. debt, which could result in higher interest rates for American borrowers, according to the New York Times: On Tuesday, President-elect Barack Obama predicted the possibility of...

Cracks in U.S.-China Relations Are Widening Again in Crisis

Bloomberg News writes about prospects for U.S.-China relations under an Obama administration and amid a global economic crisis: Mr. Paulson, 62, who visited China 70 times during his career on Wall Street, made improving ties a...

China to the Rescue? Not!

Thomas Friedman continues his reporting from China. Writing from Dafen, home to knock-off masterpiece paintings, Friedman looks at how the U.S.-China relationship will change in the wake of the global financial crisis: After...

Credit Crisis Casts Gloom Over China’s Exporters

The AP reports on the impact of the global financial crisis on China’s exporters: China has been known as the world’s factory for everything from toys to T-shirts, and exports have powered its growth in recent years....

China’s Fortunes Anchored to Those of U.S.

In the Dallas Morning News, columnist Jim Landers writes about China’s role in the rescue of mortgage giants Fannie Mae and Freddie Mac, and just how intertwined the Chinese and American economies are: China is still...

Bank of China Bothered by Fannie and Freddie Mess?

Chinese state media are reporting one of China’s largest banks “may” own $20 billion worth of debt in the United States’ gravely troubled lending giants Fannie May and Freddie Mac: The Freddie Mac and...

“Backwardness Always Loses”

Overseas Chinese political commentator Liang Jing wrote following essay, translated by David Kelly: Last week, the US once again became ground zero for turmoil on global stock markets. It was triggered by much worse than...

U.S. Subprime to Hurt China Banks in 2008 – Reuters

From Reuters: Earnings at Chinese banks will probably be hit this year by the snowballing U.S. subprime mortgage crisis and Beijing’s moves to cool the economy, the president of the country’s sixth-biggest bank said on Monday. “We have to be very realistic: we are facing many challenges this year which are not only from home […]

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