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“87 Percent of [Chinese] Respondents Believe China’s Dollar-Assets are Unsafe”

Washington’s Blog [1]
Tuesday, June 9, 2009

Remember how the Chinese laughed at Geithner when he said their American investments were safe?

The laughter was not just the opinion of those sitting in the audience listening to Geithner’s speech.

One of China’s official newspapers, The Global Times, reports [2] that an online poll of Chinese citizens found that 87 percent of respondents believe China’s dollar-assets are unsafe.

The paper concluded, “Ordinary Chinese people are discontent with the declining value of China’s huge foreign exchange reserves denominated in U.S. dollars.”