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China 'Worried' About US Debt
Dollar, Treasurys fall as Wen voices concern
By Jason Farago
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Posted Mar 13, 09 7:45 AM CDT
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(Newser)
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The dollar and US Treasury bonds fell today after Wen Jiabao, the Chinese premier, voiced concern about the safety of US debt. As the American government's largest creditor, China has asked for reassurances that the US government demonstrate the safety of China's assets. "To be honest," said Wen, "I am a little bit worried," reports the Financial Times.
The premier's remarks came at the end of the annual session of the National People's Congress, which approved a new stimulus package of $586 billion. At a rare press conference with foreign and domestic media, Wen left the door open to further stimulus measures to fulfill his pledge of 8% growth. "We have prepared enough ammunition and we can launch new economic stimulus policies at any time," he said.