Blog on the Run: Reloaded

Tuesday, September 23, 2008 8:25 pm

When your banker calls in the loan

Filed under: Uncategorized — Lex @ 8:25 pm
Tags: , ,

China holds a big chunk of U.S. debt, and I’ve long wondered what might happen if it ever decided to call it in.

Now we may know. From China’s Xinhua news agency:

BEIJING, Sept. 22 (Xinhua) — Chinese President Hu Jintao and his U.S. counterpart George W. Bush discussed bilateral relations and the financial upheavals in the United States in a phone conversation on Monday morning Beijing time….

Bush briefed Hu on the latest development of the U.S. financial market, saying his government was well aware of the scope of the problem, and had taken and would continue to take necessary measures to stabilize the domestic and world financial markets….

[Hu] said China is ready to work with the U.S. side to intensify dialogue, exchanges and cooperation, and properly handle issues concerning mutual interests and of major concern, particularly the Taiwan question, in a bid to push forward the sustained and steady development of the Sino-U.S. constructive and cooperative ties.

Don’t we have a treaty obligation to defend Taiwan from military attack? If so, what does this development mean for that?

(h/t: Just World News)

UPDATE: Uh-oh.

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