Wen Jiabao

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China's European Bailout (And TBTF) Bid Hits Overdrive, As Wen Jiabao Is Now In The Market For Hungarian Bonds





In continuing its recent pursuit of "white knight on full retard tilt" policies vis-a-vis the endless European bailout, and throwing good money after bad after horrible after totally lost, today Chinese premier Wen Jiabao said that not only would China do everything in its power to preserve the EUR (after all that CNY needs to be cheap against some currency) and "work for expeditious recovery and stable growth" but also unveiled that it is now preparing to go ahead an buy Hungarian bonds. As if owning Greek, Portuguese, Spanish and Irish debt was not enough. It seems China has learned from the best, and either knows something others don't (except for the SHIBOR market of course) or is actively preparing to become Too Biggest To Fail by making sure that should something bad happen to it literally the entire world will follow it into the depths of hell. Which, as Jamie Dimon, Vik Pandit, Lloyd et al have known for the past 3 years, is not a bad strategy. Look for China to keep buying up ever more European debt as it intertwines its fate with that of the rest of the central planning cartel: a development we can only compare to the ever deteriorating Spanish Cajas desire to buy up as many semi-healthy banks as they possibly can to prevent a policy determination to shut them, and their billions of bad debts, down.

 
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As Bloomberg Reporter Is Beaten Up In China, Wen Jiabao Promises To Crack Down On "Power Abuse"





With violent protests springing up like mushrooms, following recent appearances in North Korea and Vietnam, and following last weekend's failed attempt at a Jasmine Revolution, China's authoritarian regime is about to be put to the supreme test. Bloomberg reports that "Chinese Premier Wen Jiabao pledged to punish abuse of power by officials and narrow the growing wealth gap as police blanketed Beijing and Shanghai to head off planned protests inspired by revolts in the Middle East." In other words, beatings (and disappearances) will continue until morale finally improves. As for the beatings, Bloomberg's Stephen Engle managed to experience one up close and personal: "Security officers also detained several foreign journalists, including
Stephen Engle, a reporter for Bloomberg Television. The Wall Street
Journal saw Mr. Engle being grabbed by several security officers, pushed
to the ground, dragged along by his leg, punched in the head and beaten
with a broom handle by a man dressed as street sweeper." Yes, China may be the most repressive regime when push comes to shove, but should 1+ billion angry and hungry Chinese decide there is nothing all that unique about China compared to Tunisia, Algeria, Egypt, Libya, Bahrain, Oman, Saudi Arabia, Ivory Coast, Vietnam, North Korea, Djibouti and countless more to come, not even the most convincing "blanketing" by police forces will do much of anything to prevent the only revolution that matters.

 
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Robert Gibbs Cracks Jokes, Wen Jiabao Remains Stoic





Otherwise humorless White House press secretary Bob Gibbs had his first attempt at cracking jokes when he told Chinese premier Wen Jiabao that the latter doesn't have to worry about anything and that "there's no safer investment in the world than in the United States." [but to please not compare U.S.

 
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Robert Gibbs Cracks Jokes, Wen Jiabao Remains Stoic





Otherwise humorless White House press secretary Bob Gibbs had his first attempt at cracking jokes when he told Chinese premier Wen Jiabao that the latter doesn't have to worry about anything and that "there's no safer investment in the world than in the United States." [but to please not compare U.S.

 
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