Smart Diplomacy: China Wants to Sell US Bonds to Deliver ‘Economic Punch’
ByReason number 14 trillion and 1 not to keep spending and borrowing. Too bad that thought hasn’t crossed the minds of the Democrats.
Reuters: The calls for broad retaliation over the planned U.S. weapons sales to the disputed island [Taiwan] came from officers at China’s National Defence University and Academy of Military Sciences, interviewed by Outlook Weekly, a Chinese-language magazine published by the official Xinhua news agency.
The interviews with Major Generals Zhu Chenghu and Luo Yuan and Senior Colonel Ke Chunqiao appeared in the issue published on Monday.
The People’s Liberation Army (PLA) plays no role in setting policy for China’s foreign exchange holdings. Officials in charge of that area have given no sign of any moves to sell U.S. Treasury bonds over the weapons sales, a move that could alarm markets and damage the value of China’s own holdings.
While far from representing fixed government policy, the open demands for retaliation by the PLA officers underscored the domestic pressures on Beijing to deliver on its threats to punish the Obama administration over the arms sales.
Hmmm. Doesn’t it sound an awful lot like China is looking to impose sanctions on us? Forget about sanctioning Iran. I guess we’ll just have to leave Iran to Israel.
A reader e-mails “Thank you Mr. President, and the Democratic Party.” I think he was being sarcastic.
Find out what others have to say at memeorandum.
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The United States is in the position where not only is there no leverage against China, but in a few keystrokes on a computer China could metaphorically bring the United States to its knees.
The full article is at http://www.examiner.com/examiner/x-25304-NY-Homeland-Security-Examiner~y2010m2d10-Terror-in-the-pits