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#1
08-07-2007, 05:44 PM
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China threatens \'nuclear option\' of dollar sales
[ QUOTE ]
China threatens 'nuclear option' of dollar sales By Ambrose Evans-Pritchard Last Updated: 6:00pm BST 07/08/2007 The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation. Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress. Shifts in Chinese policy are often announced through key think tanks and academies. Described as China's "nuclear option" in the state media, such action could trigger a dollar crash at a time when the US currency is already breaking down through historic support levels. It would also cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession. It is estimated that China holds over $900bn in a mix of US bonds. [/ QUOTE ] Full Article 
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#2
08-07-2007, 05:48 PM
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Re: China threatens \'nuclear option\' of dollar sales
You can't play hardball against someone who's got you by the balls.
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#3
08-08-2007, 02:20 AM
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Re: China threatens \'nuclear option\' of dollar sales
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You can't play hardball against someone who's got you by the balls. [/ QUOTE ] QFT
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#5
08-08-2007, 02:36 PM
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BRILLIANT! Best Post of the Thread!
Brilliant! This is the best post of the thread.
The Chinese would be slitting their own financial throats if they tried this move. Their threat is empty but there are enough gulliable fools that believe this "urban legend" threat to fall on their knees and start sucking the Chi-Coms [rooster]. Jeez....there are a lot of ignorant people in this world. But the Chi-Coms have a history of doing stupid things so they might be dumb enough to try these ploy.
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#6
08-07-2007, 05:51 PM
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Re: China threatens \'nuclear option\' of dollar sales
LOL. Unfortunate as it is, China's government is still obviously mercantilist. "We'll bomb your economy so we can still ship goods to you!" The US will have to adopt governmental fiscal rectitude to ameliorate this threat, which isn't likely given the Congressional climate, so hopefully our politicians in Washington will STFU. I wonder, is this coercion?
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#7
08-07-2007, 05:57 PM
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Re: China threatens \'nuclear option\' of dollar sales
This looks more like self defense to me, it's the US that wants the chinese to [censored] with the value of their currency.
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#8
08-07-2007, 05:59 PM
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Re: China threatens \'nuclear option\' of dollar sales
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This looks more like self defense to me, it's the US that wants the chinese to [censored] with the value of their currency. [/ QUOTE ] lol?
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#9
08-07-2007, 06:00 PM
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Re: China threatens \'nuclear option\' of dollar sales
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[ QUOTE ] This looks more like self defense to me, it's the US that wants the chinese to [censored] with the value of their currency. [/ QUOTE ] lol? [/ QUOTE ] " if Washington imposes trade sanctions "
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#10
08-07-2007, 06:03 PM
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Re: China threatens \'nuclear option\' of dollar sales
[ QUOTE ]
[ QUOTE ] [ QUOTE ] This looks more like self defense to me, it's the US that wants the chinese to [censored] with the value of their currency. [/ QUOTE ] lol? [/ QUOTE ] " if Washington imposes trade sanctions " [/ QUOTE ] Right, obv. trade sanctions are a dumb idea, but you implied that China isn't currently [censored] with the value of their currency, which is completely false.
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