China 'Worried' About US Debt

Dollar, Treasurys fall as Wen voices concern
By Jason Farago,  Newser Staff
Posted Mar 13, 2009 7:45 AM CDT
China 'Worried' About US Debt
Chinese President Hu Jintao, left, chats with Premier Wen Jiabao after the closing ceremony of the National People's Congress at the Great Hall of the People in Beijing, China, Friday, March 13, 2009.   (AP Photo/Andy Wong)

The dollar and US Treasury bonds fell today after Wen Jiabao, the Chinese premier, voiced concern about the safety of US debt. As the American government's largest creditor, China has asked for reassurances that the US government demonstrate the safety of China's assets. "To be honest," said Wen, "I am a little bit worried," reports the Financial Times.

The premier's remarks came at the end of the annual session of the National People's Congress, which approved a new stimulus package of $586 billion. At a rare press conference with foreign and domestic media, Wen left the door open to further stimulus measures to fulfill his pledge of 8% growth. "We have prepared enough ammunition and we can launch new economic stimulus policies at any time," he said.
(More Wen Jiabao stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.