{"id":59,"date":"2008-10-08T22:58:00","date_gmt":"2008-10-08T21:58:00","guid":{"rendered":"http:\/\/kreps.org\/blog\/?p=59"},"modified":"2016-03-13T19:44:25","modified_gmt":"2016-03-13T18:44:25","slug":"is-china-taking-over-global-economy","status":"publish","type":"post","link":"http:\/\/kreps.org\/blog\/is-china-taking-over-global-economy\/","title":{"rendered":"Is china taking over global economy?"},"content":{"rendered":"

\"US<\/a> Is it possible that it may be to a growing extent the Chinese<\/a> who are the ones lending large amounts of money to help the Western Central banks prop up our failing banking system?<\/p>\n

See the US Treasury website, for example – http:\/\/www.ustreas.gov\/tic\/mfh.txt<\/a>,
\nshowing Japan as the biggest foreign owner of US treasury bonds, on a
\ndeclining scale, and China as the second biggest, rapidly catching up
\nand very soon to overtake Japan. (We in the UK are a distant – but
\nrapidly and massively growing – 3rd after these two giants, with the
\nrest of the world trailing behind.)<\/p>\n

See recent analysis for China of the current crisis – “In the first
\nhalf of 2008 China\u2019s GDP continued to grow at a double-digit
\nrate (10.4%), despite a few severe natural disasters that hit many parts
\nof the country really hard, including the snow\u00adstorms in south
\nChina in January and the Sichuan earthquake in May. Therefore,
\nirrespective of the economic slowdown in the rest of the world,
\nChina is still likely to propel its own economic growth and trade
\nat a rather ambitious pace. Thanks to limited exposure to US
\nsub\u00adprime mortgages, most Chinese commercial banks will not be
\ncritically impaired by the current crisis.\u00a0” [pdf]<\/a><\/p>\n

See the journalistic reports that China is indeed so economically strong that its large investments in the West can nonetheless be comfortably written off<\/a>…<\/p>\n

Maybe they waited till after the Olympics before they really started to squeeze…?
\nSTOP PRESS – Will Hutton’s comments are revealing and longer term. A relief?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Is it possible that it may be to a growing extent the Chinese who are the ones lending large amounts of money to help the Western Central banks prop up our failing banking system? See the US Treasury website, for example – http:\/\/www.ustreas.gov\/tic\/mfh.txt, showing Japan as the biggest foreign owner of US treasury bonds, on … Continue reading “Is china taking over global economy?”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-59","post","type-post","status-publish","format-standard","hentry","category-tubthumper"],"_links":{"self":[{"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/posts\/59","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/comments?post=59"}],"version-history":[{"count":5,"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions"}],"predecessor-version":[{"id":970,"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions\/970"}],"wp:attachment":[{"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/media?parent=59"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/categories?post=59"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/kreps.org\/blog\/wp-json\/wp\/v2\/tags?post=59"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}