China Urges U.S. to Counter Crisis, Prepares for ‘Worst Case’

[Joanne98]

Dec. 4 (Bloomberg) -- Chinese officials urged the U.S. to do everything possible to restore calm to financial markets and said they are preparing for a “worst-case scenario” as the global crisis deepens.

The comments in Beijing today by Vice Premier Wang Qishan and central bank Governor Zhou Xiaochuan came as U.S. Treasury Secretary Henry Paulson praised China’s “responsible role” in combating the crisis.

The global financial turmoil is dominating the fifth Strategic Economic Dialogue, a biannual summit initiated by Paulson, diverting attention from U.S. claims that China’s currency is undervalued. Both sides called for continued cooperation as Paulson prepares to make way for the administration of President-elect Barack Obama, who has already branded China a currency manipulator.

http://www.bloomberg.com/apps/news?pid=20601080&sid=aNYTcHIr7Jvc&refer=asia

Then farther down the article there is this little jewel!

>>>
Zhou urged the U.S. to increase savings, after excessive consumption and debt helped to trigger the crisis.

Oh that's very funny! That Zhou.. What a card eh?

[Deja Q]

1. It's not funny at all.

Keeping debt in check, paying it back, adding jobs to increase the tax base rather than merely hiking taxes, yes we can.

Plenty we can all do.

[Joanne98]

3. It's funny coming from a country who depends on us shopping till we drop.

I have no idea why he said that. The last thing China wants us to do is save money. He's probably being sarcastic.

[TheCowsCameHome]

2. Yeah, scooping up all their Chinese-made crap really worked out.

[Citizen Number 9]

6. Appeared to work out quite well.

After all, we did it year after year and on an increasing basis.

Didn't you like your Christmas lights?

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Citizen Number 9]

9. And tolerant except for

people from other 'tribes' who don't use the 'tribalspeak'.

[Vanje]

13. Maybe you'd be happier at some other board.

.....
I wonder what your interest in D.U is.

[TheCowsCameHome]

8. I was so happy I left them up all year.

[Citizen Number 9]

10. Sounds like

a mutually satisfactory purchase.

In case you turned them on during that time, I will note that I support your use of scarce resources, even though I personally consider Christmas lights to be fairly frivolous.

[TheCowsCameHome]

12. It's OK -

I only turned them on when no one was looking, and besides they burned out after 20 minutes anyway.

[no_hypocrisy]

4. Save what?

Our representatives are giving away our money, our children's money, and our grandchildren's money to corporate executives without accountability. And that's not calculating repaying the debt we're incurred for eight years from China, Japan, and South Korea. Stagnant wages, increasing expenses for necessities.

Save what with what?

[Citizen Number 9]

5. I'm not laughing either.

The Chinese financed our excessive spending in the runup to the financial crisis.

In spite of the growth in affluence over there, they deferred a portion of it in order to enable ours.

If we start saving it will help move Chinese capital.

[xchrom]

11. spoken like some one who A undercut his own labour

to out compete ours workers and B has no idea how expensive it is to live in a country with a real squeeze on wages -- which C he contributed to.