America’s Most Dangerous Export?
Remember when American officials were worried about the safety of Chinese exports? How quickly the tables have turned. Chinese premier Wen Jiabao is “worried” about the “safety” of America’s most dangerous export: U.S. Treasury bonds.
Five months ago, I wrote about the parallels between China’s product safety crisis and America’s financial crisis. Today, there’s not much discussion about the safety of Chinese exports. Wouldn’t it be nice if, five months from now, no one’s worried about the safety of U.S. Treasuries?