Archive for the ‘nuclear option’ Category

China dollar attack would be “foolhardy” : Bush

August 8, 2007

WASHINGTON (AFP) – President George W. Bush on Wednesday said China would be “foolhardy” to attempt to push down the dollar in retaliation for US pressure over Beijing‘s alleged currency manipulation.

Bush said he had not seen the report that Beijing was hinting at such a move, in Britain’s Daily Telegraph newspaper, but warned against any attempt by Beijing to hit back at Washington using vast foreign currency reserves.

“That would be foolhardy of them to do that,” Bush said in an interview with Fox News, adding he doubted the report was based on sources from the office of Chinese President Hu Jintao.

Read it all:
http://news.yahoo.com/s/afp/20070808/pl_afp/
usbushforexchina_070808205732

Read the report from The Telegraph newspaper:
China Threat: “Nuclear Option” Against U.S. Economy

China Threat: “Nuclear Option” Against U.S. Economy

August 8, 2007

By Ambrose Evans-Pritchard
The Telegraph (UK)
August 8, 2007

The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.

Read it all at:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/07/bcnchina107a.xml