It Wasn’t Supposed To Be A Comedy Tour

Tim Geithner took his show on the road to try and convince the Chinese that their U.S. investments were safe and to grovel to China to keep buying our debt. The Chinese thought it was funny and rightfully so, they’re good at math.

Chinese Students Laugh At Tim Geithner

Poor Tim Geithner. He already comes off as kind of nervous and insecure when talking in public, but at least in the US, the only people who ever bother him are crazed Code Pink activists.

But in China, representing the country as chief bond salesman, the man named to People’s 50 most beautiful people list was openly mocked.

Telegraph: In his first official visit to China since becoming Treasury Secretary, Mr Geithner told politicians and academics in Beijing that he still supports a strong US dollar, and insisted that the trillions of dollars of Chinese investments would not be unduly damaged by the economic crisis. Speaking at Peking University, Mr Geithner said: “Chinese assets are very safe.” The comment provoked loud laughter from the audience of students.

Geithner insists Chinese dollar assets are safe

In his first official visit to China since becoming Treasury Secretary, Mr Geithner told politicians and academics in Beijing that he still supports a strong US dollar, and insisted that the trillions of dollars of Chinese investments would not be unduly damaged by the economic crisis. Speaking at Peking University, Mr Geithner said: “Chinese assets are very safe.”

The comment provoked loud laughter from the audience of students. There are growing fears over the size and sustainability of the US budget deficit, which is set to rise to almost 13pc of GDP this year as the world’s biggest economy fights off recession. The US is reliant on China to buy many of the government bonds it is planning to issue but Beijing’s policymakers have expressed concern about the strength of the dollar and the value of their investments.

See also:
UPDATE 3-Geithner tells China its dollar assets are safe
Laughing at us in China
China May Scoff At Us But This Is No Laughing Matter
You’d Better Sit Down, I’ve Got Some Bad News

/we’re going to need a bigger clown car