Friday, December 5, 2008
Time for a little humility?
I found this to be quite the interesting article, regarding Chinese banks and their stake of the U.S. debt. When taking an Asian history class at ASU, we read one of this author's books regarding Japan (Looking at the Sun). Fallows seems to know what he's talking about. I imagine Gao Xiqing, president of the China Investment Corporation, also knows what he's talking about.
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3 comments:
Hey Jeff.
Interesting perspective on the socialization of America. He seems to like it.
Vince
Hey, Vince--good to see you here. I wonder to what degree Gao likes being in this position and to what degree this whole situation might really worry him. After all, I see indications there's a good chance they won't get paid back (or they'll get paid in super-inflated, near-worthless dollars, which is the same thing).
Gao has great insight. Unfortunately I fear that Americans are too proud to listen to someone from China or anywhere else for that matter.
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