Scrivener.net

Tuesday, June 02, 2009

International finance news report of the moment

The Telegraph reports...

Geithner insists Chinese dollar assets are safe

In his first official visit to China since becoming Treasury Secretary, Mr Geithner told politicians and academics in Beijing that he still supports a strong US dollar, and insisted that the trillions of dollars of Chinese investments would not be unduly damaged by the economic crisis. Speaking at Peking University, Mr Geithner said: "Chinese assets are very safe."

The comment provoked loud laughter from the audience...

h/t to the anonymous econ professor.