August 21, 2011
Biden to China - What could go wrong?
Joe Biden does very well representing America in places like Mongolia where nobody cares if he commits one of his predictable gaffes in protocol or language. The press isn't there to see it so Biden's harmless forays into diplomacy don't generate any attention. But China? Vice President Joe Biden sought to reassure China Sunday that its vast financial assets in the United States are safe and that America will never default on its debts. In a speech to university students in Chengdu, Biden said he is confident about the strength of the U.S. economy. He noted that Americans still hold the vast majority of the ballooning U.S. debt, leaving Washington with great domestic incentives to rein in spending and ensure repayment. In response, China's official Xinhua news agency Sunday called Biden's reassurances "far from enough" to soothe concerns in China and other major markets. Xinhua's commentary called for concrete U.S. actions, and said Washington must "realize that confidence can not be...(Read Full Post)