Obama Defends Strength of US Economy

By
March 15, 2009 00:10

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

In an unusual defense of the US economy, President Barack Obama declared Saturday that the Chinese and other foreign investors can have "absolute confidence" in Treasury bonds and other American investments. Obama, responding swiftly to Chinese worries about their trillion-dollar investment in US government debt, said in a White House appearance with Brazilian President Luis Inacio Lula da Silva that the American economy remains the most vibrant in the world, and has continued to attract foreign money even amid the deepest recession in decades. "Not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States," Obama said, defending the safety not just of US government notes but also private sector issues. His comments came less than a day after Chinese Premier Wen Jibao declared in Beijing that he was "definitely a little worried" about Chinese holdings of US bonds, and said his government was watching closely how the United States tries to deal with its economic troubles. The exchange between the two leaders was an unusual public commentary on the soundness of an American economy that rarely has come under question from foreign leaders.

Related Content

A child walks around a fake tank parked outside the US embassy
August 20, 2018
Amnesty International concerned over arms supplied to Israel, Saudi Arabia

By ANNA AHRONHEIM