Monday, February 09, 2009

For the Record with Wen Jiabao

"[The world financial crisis] is attributable to inappropriate macroeconomic policies and their unsustainable model of development characterized by prolonged low savings and high consumption; excessive expansion of financial institutions in blind pursuit of profit.”--Chinese Premier at Davos Forum

NB: China stopped new investments in US companies last year, and dumped $26.1 billion in Fannie Mae and Freddy Mac bonds in five months ending in November, 2008.