Friday, December 08, 2006

Paulson and Bernanke Going to China

Treasury Secretary Paulson and Fed Chairman Ben Bernanke will be going to China next week to discuss various matters. The latest news is that the US won't be "finger-wagging" at the Chinese to get them to do anything specific, but they will be discussing "long-term structural issues" and "disparate economic and financial issues at high levels of government."

daly-jim-talking-it-over-9934867
[Thanks to poster.de/Daly-Jim for the image.]

In other words, these meetings are about subjects much too intricate and important to be revealed to the general public.

In July of 2005, the Chinese did seem to heed a US and global request to allow their yuan to appreciate. Although there's not much point in speculating as to what will be said, we should keep an eye on stats and official announcements after December 14. We may get an inkling then of what important message was sent and received successfully, if any.

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