Name of the Game Is Interdependence
- July 2010 |
- Strategic Analysis
Volume:34
Issue: 4
Debate
Lawrence Summers, United States President Barack Obama’s chief economic advisor and formerly secretary of treasury in the second term of the Clinton administration, once said that there was a ‘balance of financial terror’ between the US and its financial creditors, primarily China and Japan. Today, China, holding some $800 billion in US treasury bonds and some $2 trillion worth of currency reserves wields financial terror against the US.
Posted On: July 1, 2010
