China critiques the Fed

Posted by Jason | Posted in Economics, Government | Posted on 16-11-2009


There is something seriously wrong when a communist government is lecturing us on our monetary policy, and they are right. Then again, it seems the communist government of China understand capitalism and it’s benefits more than our President.

BEIJING — China’s top banking regulator issued a sharp critique of U.S. financial management only hours before President Barack Obama commenced his first visit to the Asian giant, highlighting economic and trade tensions that threaten to overshadow the trip.

Liu Mingkang, chairman of the China Banking Regulatory Commission, said that a weak U.S. dollar and low U.S. interest rates had led to “massive speculation” that was inflating asset bubbles around the world. It has created “unavoidable risks for the recovery of the global economy, especially emerging economies,”

via China’s Blunt Talk for Obama –

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