China's yuan set to weaken for six months:
Analysts forecast gradual depreciation as China grapples with global slump,
December 12, 2008
AFAIK, Chinese offered to buy a lot from us (I mean US) in return for greenbacks and T-bills they accumulated, but they were refused, as their main interests were around newest technologies and industrial equipment with potential military use which they cannot buy in a normal business fashion.
They were also expressing interest in a lot of assets in US, and Russians did so also, again, with negative result out of fear of too much foreign influence on US economy.
Yes, I know, with Japanese owning Hollywood, Saudi, Swedish, Germans and British owning significant sectors of our economy and London City still in charge of financial world, it does not make much sense, but at least those were considereed our allies since WW2 (especially Germans and Japanese). Communists did not won Cold War, but they are certainly willing to buy us in an ol' good capitalistic free market fashion.
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1 comment:
Well the reason China and especially Russia are willing to buy a 'stake' in US is pure business, therefore capitalist mentality not communism. Has US created monsters, with spread of democracy and capitalism?
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