Friday, December 31, 2010
In the beginning of June (June first), Treasury Secretary Tim Githner went on his first foreign trip – China – to reassure Chinese leaders that America is committed to long-term fiscal discipline. In other words, he kept asking the Chinese to keep buying US bonds in order to maintain the recovery of American economy. Interestingly, Githner is not going to visit the second economic power – Japan, but passing Japan. Probably, the United States needs China more than Japan at this moment.