Meanwhile, yesterday the New So it is no wonder that in addition to lending their billions to the The Chinese, in short, are playing the diplomacy of globalization hard, from the Wednesday, China’s new premier, Wen Jiabao, will be speaking at the Harvard Business School, and my Chinese student Simon will be there to give us a first-hand report. We expect to see a nice Blog entry after the speech, Simon. … Continue reading ![](\"http:\/\/cyber.law.harvard.edu\/blogs\/static\/monkeybrain\/sang.184.jpg\")
Wednesday,
\n China’s new premier, Wen Jiabao, will be speaking at the Harvard
\n Business School,<\/a> and my Chinese student Simon will be there to give us a first-hand
\n report. We expect to see a nice Blog <\/a>entry after the speech, Simon.<\/em><\/p>\n
\n York Times<\/a> had an interesting article
\n on the visit, noting that China has now replaced Japan as the biggest
\n purchaser
\n of US debt (Treasury bonds, mostly, as we discussed in class). As
\n such, they are in effect financing the current US budget deficit out
\n of their balance of trade surplus:<\/em><\/p>\n
\n United States Treasury, the Chinese are suddenly buying big-ticket American
\n goods, including airplanes, to relieve some of this pressure.<\/p>\n
\n knowing it gives them a lot of leverage in the United States. It may
\n not be clear yet how effective they will be in getting their way with
\n the Bush team, but it seems safe to say that Prime Minister Wen doesn’t
\n need to worry about getting any lectures in Washington about globalization,
\n let alone democracy.<\/p>\n
\n New York Times<\/a><\/p>\n<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"