Is China ready to dump U.S. Debt?
Its being reported that China’s State Administration of Foreign Exchange, which adopts rules and regulations governing foreign exchange market activities and managing the nations foreign exchange reserves, has ordered its foreign exchange managers to dump risky securities and hold only U.S. Government debt that carries an explicit guarantee.
Who will finance Obama’s $3.8 Trillion dollar budget and record $1.6 Trillion dollar deficit if the Chinese dump U.S. securities?
More here Via China Economic Review
Related: Obama 2008 Presidential Campaign: “Fiscal Conservative Case for Barack Obama”
Obama submits largest budget in history but portrayed as Fiscal Conservative by Networks
H/T: Xiao-Mei