China’s Zhou Warns of Sovereign Default Risks, Weak Recovery

[Joanne98]

Source: Bloomberg

Oct. 9 (Bloomberg) -- China’s central bank governor Zhou Xiaochuan said the global economic recovery is “weak and highly uneven” and warned that mounting fiscal deficits in developed countries may lead to renewed risks of sovereign default that would destabilize financial markets.

“Sovereign risks could deteriorate again at any time, producing systemic effects on the global financial stability,” he said in a statement released in Washington at the annual meeting of the International Monetary Fund. The developed countries, he said, “should formulate and implement credible fiscal consolidation plans, and prevent sovereign risks from damaging financial stability.”

China, the world’s second-largest economy, has come under mounting criticism from the U.S. and other trading partners who accuse it of keeping its currency, the yuan, undervalued. The meetings of the IMF and Group of 20 officials have focused on ways of resolving exchange rate differences to avoid what some officials have warned may turn into a protectionist “currency war.”

Zhou said China would continue to implement “aggressive fiscal policies and appropriately accommodative monetary policy” in an effort to “stimulate domestic demand.”


Read more: http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a7xrIwbx1aSo

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China will do what it has to do 'stimulate domestic demand'....aka 'supply'

That's code for 'give money to the US chamber of commerce to get Republicans elected in November'

Cause the Chinese know the best way to destroy America is to let the conservatives run it!

[totodeinhere]

1. That's an interesting thought. n/t

[Aristophrenia]

2. There are some amongst us who

know their history - who understand why China is called the middle country - the middle of the earth.

Asia is most of the world - strange concept to Americans and Europeans who live a centric, centered planet.

China has traditionally been the most powerful nation on earth - not the most powerful nation in europe - which was pretty much nothing for many centuries,
but since all whities ever think about is themselves whatever happened barbarian land doesn't count becuase they are so backwards even though they were centuries ahead of the west for most of modern history.

The US and Europe not understanding the premininence of China is like Fiji genuinely believing it is the most advaned, powerful nation on earth - ridiculous.....China is not rising, it is not emerging, it is not a growing dragon - it is simply restoring the traditional balance lost during the onset of industrialisation - the tea wars.

More importantly China sees time in centuries not election cycles. They plan for the 100 year cycle - not like Americans for fast food, fast porn, fast cars, fast money, instant gratification, short attention spans etc- and they are not obsessed with some external deity who defines their fate - they believe in themselves - China is back baby - and America is in a whole world of hurt.

China doesn't need to do anything to destroy the US - they couldn't even begin to compete with yourselves - you guys have self destruction down to a new art form - its not even slow motion - like your food, porn and culture - its immediate and of course entirely disposable.

[unkachuck]

3. "...China is called the middle country..."

....I never understood the term 'Far East'. What is Far East? The Far East is a Euro-centric term. I don't live in Europe. The Far East is Europe. China is the West.

"...China is back baby - and America is in a whole world of hurt."

....the white race had better educate their off-spring well to stay ahead of the technological curve....the non-white races, that we've been slaughtering for centuries, will soon be looking for some white ass....

....killing people by the millions has it's downside....

[DonCoquixote]

4. There is truth in what you say

However, do you want a world where China defines how valuable lives are?

[Marengo]

5. "but since all whities ever think about is themselves "

Not cool. Actually a form of bigotry, although trendy I understand.

BTW, this "whitey" has lived in China, and China is in as much "hurt" as any other advanced nation. Built on a foundation of sand, and the younger generations are just as infatuated with fast food, entertainment, fast money, and instant gratification as those in the West.

[fedsron2us]

6. Who is being arrogant now ?

China was only the Middle of Earth to the Chinese not to Indians, Babylonians, Persians, Egyptians, Incas, Aztec's , Byzantines, Romans etc who were all equally convinced at one time or another that they were at the centre of all things..

Culture and civilization is measured in more than just wealth as even Americans are beginning to realise.

Anyway Zhou was not interested in these things. he is just rightly worried that the crooked bankers who run the west have so screwed the world economy that China may lose both its markets and its foreign investments

[Marengo]

7. Upon reflection, I think it would be good form for you to apologize

Your usage of the term "whities" is nothing more than racist.