Obama went to China this week to press for civil rights and a green planet. Instead, he got a dose of reality of how he is perceived by those that really count in China, the leadership. The chairman of the China Bank Regulatory Commission told Obama, in no uncertain terms, that Obama's economic policies are are:
(1) causing "mass speculation" thereby inflating asset speculation in stock and property markets around the world and
(2)creating "unavoidable risks for recovery of the global economy, especially emerging economies".
The Chinese chairman was referring to the huge deficit spending and borrowing leading to a weak dollar and low U.S. interest rates. I guess the Chinese leadership just doesn't understand that Obama is global a rock star who can't be bothered with such petty concerns.
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