According to Prestowitz, president of the The Economic Strategy Institute , who just finished his new book The Billion New Capitalist and a six months tour talking with various world bank partners, "the world bank presidents are walking on eggs shells." Both Japan and China is now holding over $1 trillion EACH in US dept! Even the little guys have considerable exposure: Singapore $250 billion, Chile $50 Billion. to put it in his worlds "the wold central banks are drowning in dollars."Monday, September 04, 2006
Japan and China holding $1 trillion EACH of US Dept.
According to Prestowitz, president of the The Economic Strategy Institute , who just finished his new book The Billion New Capitalist and a six months tour talking with various world bank partners, "the world bank presidents are walking on eggs shells." Both Japan and China is now holding over $1 trillion EACH in US dept! Even the little guys have considerable exposure: Singapore $250 billion, Chile $50 Billion. to put it in his worlds "the wold central banks are drowning in dollars."
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