Asia Needs Deal to Prevent Panic Selling of U.S. Debt, Yu Says

Asia Needs Deal to Prevent Panic Selling of U.S. Debt, Yu Says

bloomberg.com

Sept. 25 (Bloomberg) -- Japan, China and other holders of U.S. government debt must quickly reach an agreement to prevent panic sales leading to a global financial collapse, said Yu Yongding, a former adviser to the Chinese central bank.

``We are in the same boat, we must cooperate,'' Yu said in an interview in Beijing on Sept. 23. ``If there's no selling in a panicked way, then China willingly can continue to provide our financial support by continuing to hold U.S. assets.''

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Well the foreign markets are about to drop the dollar. Guess this means our dollar will pretty much be worthless.

bloomberg.com
(visit the link for the full news article)

[edit on 25-9-2008 by MatrixBaller04]

[edit on 25-9-2008 by MatrixBaller04]

3 words. Don't really care.

I don't care whether china wants to hold US assets or not. They kept buying US assets because they have to. If they think it's too risky, then they should stop buying them, don't they?

So.. go ahead, talk with Japan, talk with the Arabs. Doesn't matter.