Geither's 'Chinese Assets Are Very Safe' Remark Draws 'Loud Laughter' From Chinese Students

Posted: Jun 01, 2009 5:38 PM

From Reuters"'Chinese assets are very safe,' Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.

His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home."