T-bills are safe bets, says President Obama. In response to the much-publicized worry expressed by Beijing about its US assets, Obama today offered a clear response: "I think that not just the Chinese government, but every investor, can have absolute confidence in the soundness of investments in the United States," he said.
"There's a reason why even in the midst of this economic crisis you've seen actual increases in investment flows here into the United States," Obama said. "I think it's a recognition that the stability not only of our economic system, but also our political system, is extraordinary." Obama also downplayed the notion of fundamental differences between the US and Europe about how to tackle the global crisis. He predicted a "productive" G-20 summit next month.