Another reason to be very careful w/ China…this is something we all knew would happen – a chicken that would come home to roost, so to speak.
“…as the U.S. government’s largest creditor, it has become more assertive in trying to ensure its interests receive a hearing. ‘We have lent a huge amount of money to the U.S., so of course we are concerned about the safety of our assets. Frankly speaking, I do have some worries’…Mr. Wen did indicate that China would not be rash in making changes to its $1.946 trillion stockpile of foreign reserves, much of which is in U.S. dollars. While China is naturally looking out for its own interests, it will “at the same time also take international financial stability into consideration, because the two are inter-related,” he said.”
And just how long will they wait before springing that trap, I wonder?