Balance of Global Financial Power Shifting to China

Politics / Global Financial System Jun 05, 2009 - 06:36 PM

By: Money_and_Markets

Politics

Best Financial Markets Analysis ArticleMike Larson writes: So this is what it’s come to: Our Treasury Secretary, Timothy Geithner, has to jet off to Beijing to beg for mercy from our biggest global creditor.

He has to sit by and be lectured in the ways of finance by Chinese officials.

He has to endure the laughter of Chinese students at Peking University, who openly scoffed at his reassurances that “Chinese financial assets are very safe.â€