<![CDATA[Luo Ping, a director-general at the China Banking Regulatory Commission]]>Mr Luo, speaking at the Global Association of Risk Management’s 10th Annual Risk Management Convention, said: “Except for US Treasuries, what can you hold?” he asked. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option.”

Mr Luo, whose English tends toward the colloquial, added: “We hate you guys. Once you start issuing $1 trillion-$2 trillion [$1,000bn-$2,000bn] . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.”

http://www.ft.com/cms/s/0/ba857be6-f88f-11dd-aae8-000077b07658.html

Discuss.

]]>https://fargostreet.com/topic/16376/luo-ping-a-director-general-at-the-china-banking-regulatory-commissionRSS for NodeThu, 28 May 2026 01:18:18 GMTThu, 19 Feb 2009 22:07:51 GMT60<![CDATA[Reply to Luo Ping, a director-general at the China Banking Regulatory Commission on Thu, 19 Feb 2009 23:19:44 GMT]]>STRATfor, a intelligence and forecasting agency said pretty much the same thing: the US economy is going to falter a bit, but the rest of the world is going to have it worse. Nobody will stop lending us money to cover all of the stupid debt spending we do, and the US will start "recovering" by 2010.

]]>https://fargostreet.com/post/250020https://fargostreet.com/post/250020Thu, 19 Feb 2009 23:19:44 GMT