Sunday, February 22, 2009

Panhandling in China: Hillary Clinton Urges the Chinese to Keep Investing in Distressed U.S. Financial Markets

Continuing her tour of China, Secretary of State Hillary Clinton has urged the Chinese to continue investing in the United States. In a move that could make a used car salesman blush, Clinton portrayed the United States as a "safe investment" and said that the two countries share a common fate because the United States is the most popular destination for China's exports. Translation: If you want us to continuing buying your widgets, give us the money to do so!

Here's a clip from the article, which appears on MSNBC.Com:
[Clinton] said during an interview with the show "One on One" during her stop in China Sunday that she thinks the Chinese are making a smart decision by continuing to invest in U.S. financial instruments. "It's a safe investment. The United States has a well-deserved financial reputation."

In order to boost the economy, the U.S has to incur more debt, she said. "It would not be in China's interest if we were unable to get our economy moving," Clinton said. "So by continuing to support American Treasury instruments, the Chinese are recognizing our interconnection. We are truly going to rise or fall together. We are in the same boat.
Last week, Clinton provoked anger among some human rights activists when she said that now was not the right time for the United States to highlight China's human rights abuses. Well, she's probably correct on that issue. The old saying that warns against "biting the hand that feeds you" seems relevant.


Anonymous said...


brad said...

Nice used car salesman analogy! After the passing of the massive ‘stimulus’ plan I’m not sure we have much of a choice. I’m guessing many of the human rights activist supporters in this country were supporters of the stimulus bill for the various spending on programs but it requires us to get the money from somewhere.

msakel said...

The well-connected, ideologically compromised former ex-community organizer with the anorexic resume should be counting his bully-pulpit blessings in having Hillary push his agenda of small change and big hopes.

The Wall Street forever-panhandling crowd (together with the euphemistically called "Democratic" party) that propelled Barack O. to his Lourdes-inspired presidency should be grateful that a pragmatic, competent politician and dedicated public servant is charming the Treasury Bills out of the Bejing crowds' pockets for, hopefully, yet another panhandler's dream year of $696.2 billion!

Hillary's brilliant pragmatism is reflected in her packaged argument to the Chinese that buying more bonds would "ultimately help China itself by stimulating economic growth around the world".

"We are truly going to rise or fall together" said Clinton convincingly, it's to be hoped, to her Chinese hosts.

Now, if you call this "panhandling" for Barack, I'm not so sure I'd concur! Hillary sees the symbiotic aspect in our interconnections, economic and otherwise, with the world and wants to make the Chinese appreciate this U.S-China interdependency. After all, who is going to be buying their products anyway? The Chinese make them. Americans buy them. And the profit is redeposited by the Chinese in the U. S. of O. Barack has to repay his Wall Street panhandlers for getting him where he is now. After all, these guys constitute his real base and not the beer and brat 20-something crowds that seem to have propelled His Hopeness, along with the "leg thrillers", to his current top job.

You may view this, ironically, as parasitical "panhandling" by Hillary. I see it [not as a 'purist'] as a symbiotic relationship best expressed in Hillary's own convincing words:

"We are truly going to rise or fall together."

It seems as if the Chinese will be buying her argument with American dollars.

Pandhandling? Hardly. More Hillary's contagiously pragmatic weltanschauung. Not to mention "smart diplomacy". Maybe Barack can save on his next Lourdes trip. Stay home and let Hillary do the job. What else would be new to Him, anyway, eh?...

Darren Lenard Hutchinson said...

Msakel - you know I think highly of Clinton. ....I also think we need to infuse comedy into our discussions! Of course she wasn't literally panhandling. But she was asking for money - diplomatically, of course.

msakel said...

Darren, thanks for your diplomatic response to this stern (but apreciative of diplomatic humour) "literarist" and faithful Dissenting reader.

I know that your posts have always been fair and your astute analyses of the nomination and primary, etc., were a cut above.... It's just that once in a while I have those infernal 'obamyopia' allergic flareups and am inflicted with spots of humorless righteousness (is there any other kind?!)...Thanks for the note. I, of course, read ALL your posts but, occasionally, when my allergy flares up, I'm tempted to instil a miniscule dose of Canadian 'righteousness' in the proceedings...

Keep up the great effort....and keep DISSENTING! We love it.

P.S. Just read the Globe and Mail's column by Ian Brown, "Obama Likes Us, He Really Likes Us" for yet another antidote to my stern literalism. Worth reading methinks...

Cynic in Chicago said...

Brad. . .don't lose sight of the $280B or so for tax cuts in the "massive 'stimulus' package."

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