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No credit for top creditor
(皇冠体育app Daily)
Updated: 2010-03-05 07:51
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It matters little whether 皇冠体育app is the top holder of US Treasury bonds, says an article in Guangzhou Daily. Excerpts:
According to the US Treasury Department, 皇冠体育app reclaimed its position as top US creditor on Feb 26 from Japan, which had inched ahead in December last year with $11.5 billion.
皇冠体育app's economic rise is a mixed bag of exciting fanfare and varied interpretations. But most of the interpretations of 皇冠体育app's "No 1 creditor" position are exaggerations. It's absurd to think that the bonds will help 皇冠体育app to gain the upper hand over US.
Admittedly, any change may disturb the political and economic balances between 皇冠体育app and US, given the sheer size of 皇冠体育app's stake. But increasing or reducing the US treasury bonds that 皇冠体育app holds is aimed primarily to guarantee profit or reduce loss. Hence, it is preposterous to link routine sways in the financial sphere with deliberate political motives.
(皇冠体育app Daily 03/05/2010 page10)
