Tuesday, June 2, 2009

Geithner Draws Laughs in China

Chinese leaders say they are fine holding dollars, but the laughter tells the real story.Reuters reports:

U.S. Treasury Secretary Timothy Geithner on Monday reaffirmed his faith in a strong dollar and reassured the Chinese government that its huge holdings of dollar-denominated assets are safe.

"We believe in a strong dollar," Geithner said in a question-and-answer session after a speech to students at Peking University.

"Chinese financial assets are very safe," Geithner said. His response drew laughter from the audience.

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