Not Ranked
Also.....
BEIJING, Feb. 18 (Xinhua) -- Increased borrowing by the United States to fund its massive stimulus package could cause the depreciation of U.S. dollar-denominated assets, Chinese economists have told Xinhua.
Being the largest holder of U.S. Treasury securities, China had reason to be concerned about that possible depreciation, the economists said.
The 787 billion U.S. dollar stimulus bill, the American Recovery and Reinvestment Act, is designed to jolt the ailing U.S. economy by providing government spending and tax cuts for both individuals and businesses. U.S. President Barack Obama signed it into law Tuesday.
"To rescue the ailing U.S. economy by increasing government borrowing will create a record-high federal deficit," said Yu Zuyao, economist with the Chinese Academy of Social Sciences, a government think tank.
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So, all the communists are warning us that we are going down the wrong road to socialism? YIKES!
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