The AP reports that Chicom premier Wen Jiabao has "expressed concern" about the security of loans made by the People's Republic to the U.S. government:
"We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried," Wen said at a news conference following the closing of China's annual legislative session. "I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."
Close observers of our new administration will note that it was only a few weeks ago that Secretary Clinton was in Beijing pleading with the Chinese to keep purchasing American debt. "By continuing to support American Treasury instruments the Chinese are recognising our interconnection. We are truly going to rise or fall together," Clinton said at the time.
The result is Wen Jiabao offering his "concern" about the security of their T-Bills just days after the Impeccable incident. This underlines how foolish it was for her to raise the issue at all -- as if the Chinese will buy or sell Treasuries based on what we ask them to do. It's an example of the striking naiveté of this administration in dealing with serious people on the other side -- and it won't be the last.
