China Scolds The U.S. For Dollar Depreciation

Wen Jiabao

China’s premier Wen Jiabao continues to passive-aggressively scold the U.S. government’s deficit spending.

Reuters: “We have seen some signs of recovery in the U.S. economy … I hope that as the largest economy in the world and an issuing country of a major reserve currency, the United States will effectively discharge its responsibilities,” Wen told a news conference in Egypt.

“Most importantly, we hope the United States will keep an appropriate size to its deficit so that there will be basic stability in the exchange rate, and that is conducive to stability and the recovery of the global economy,” he added.

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