Hey, George, Meet Another New Boss Of You....
China recently surpassed Japan to become the largest holder of $833 billion of dollar reserves, most of which is thought to be invested in US Treasuries.
Before the man-on-man walk, the Preznit whined and begged:
"Last July, the Chinese made a major decision on their currency. There has been some appreciation in the currency. We would hope there would be more appreciation in the currency."
"(President Hu) recognizes that a trade deficit with the United States is essentially -- what it is, is unsustainable."
"Obviously, the Chinese government takes the currency issue seriously, and so do I."
"I appreciate his statement very much because the American people -- all we want to do is be treated fairly in the international marketplace."