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Former Chinese Central Bank Advisor Questions Geithner's Math, Calls Federal Reserve Assets Rubbish
Posted on June 01, 2009
A former Chinese central bank adviser says Global Crisis Inevitable Unless U.S. Starts Saving.Another global financial crisis triggered by a loss of confidence in the dollar may be inevitable unless the U.S. saves more, said Yu Yongding, a former Chinese central bank adviser.It s very natural for the world to be concerned about the U.S. government s spending and planned record fiscal deficit, Yu said in e-mailed comments yesterday relating to a visit to Beijing by U.S. Treasury Secretary Timothy Geithner.The Obama administration aims to reduce the fiscal deficit to roughly ...
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