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...
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...
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...
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...
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...
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...
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...
In response to Wen Jiabao’s unease at the safety of China’s U.S. Treasury holdings, the White House has sought to reassure China. From Bloomberg: “There’s no safer investment in the world than in the United States,”...
At the NPC meetings, Premier Wen Jiabao expressed concern over $1 trillion of U.S. assets held by China, and called on the U.S. to guarantee its “good credit.” From the Washington Post: Wen’s remarks, which...
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...
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...
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...
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....
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...
The San Francisco Chronicle blog looks at the impact in China of the US takeover of mortgage giants Fannie Mae and Freddie Mac: How will this move affect the United States’ major creditors like China? A well-informed...
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...
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...
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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