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The Rise of CSL (Chinese As A Second Language) March 5, 2009

Posted by shwaldman in Uncategorized.
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I heard two disturbing stories on NPR this week. I listen to several of their podcasts which combine stories of similar interest – like, Education, Technology and Economy. It really is a good way to catch up on important topics and interesting human interest stories. This group of stories was on the economy. The first one discussed how we have as much debt as we do gross national product. In other words, as a country we borrow for everything we have – if we produce $1,000 worth of products, we borrow as much from other countries.

And the second story goes to show who holds our debt. There is an organized program out of China where people come to the US to buy property. It is more affordable here than their homes in Shanghai. They buy them as investment properties or as future homes for their children.

The economy world wide has taken a turn for the worst in the last 6 months, but because we were already borrowing more than we could handle, Americans should expect that the result will be the lenders will be calling in that debt… I don’t want to go to far down this path, but I am feeling more and more like we need to start learning Chinese… and I stink at learning new languages!

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1. shwaldman - March 13, 2009

Friday, March 13th from the AP – BEIJING – China’s premier didn’t say it in so many words, but the implied warning to Washington was blunt: Don’t devalue the dollar through reckless spending.

Premier Wen Jiabao’s message is unlikely to be misunderstood at the White House. It is counting on Beijing to help pay for its stimulus package by buying U.S. bonds. China already is Washington’s biggest foreign creditor, with an estimated $1 trillion in U.S. government debt. A weaker dollar would erode the value of those assets.

“Of course we are concerned about the safety of our assets. To be honest, I’m a little bit worried,” Wen said at a news conference Friday after the closing of China’s annual legislative session. “I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets.”


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