Saturday, March 14, 2009

China demands that US guarantee its government bond debt

One of The Washington Post’s most-viewed articles today is about China’s concern about U.S. government debt. In that regard, Chinese Premier Wen Jinbao shares the same sentiments as ABC’s John Stossel. The story is by Anthony Faiola (with Lori Montgomery and Ariana Eunjung Cha) and is titled “China Worried About U.S. Debt; Biggest Creditor Nation Demands a Guarantee”, link here appearing Saturday March 14, 2009 on the front page.

From a moral perspective, underneath the debt concern lies the use of cheap, often slave labor in China and other countries for manufacturing western goods. Employees often have much less freedom than we have and are much more bound by involuntary filial obligations than are most middle class people in the west.

Picture (incidental): anti-Iran demonstration near the White House in Washington, March 13.

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