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US reassures China over bond holdings concerns

US reassures China over bond holdings concerns

14 March 2009 09:45 (UTC +04:00)

Baku-APA. The White House has reassured China that its $2 trillion stockpile of US investments are safe, despite the global economic crisis.
Robert Gibbs, a spokesman for Barack Obama, talking about the safety of Chinaâ€™s vast holdings in U.S. government debt, said there was no better place in the world to invest than the United States.
"There is no safer investment in the world that in the United States," White House spokesman told a daily briefing.
Gibbs was responding to comments by Wen Jiabao, China’s prime minister, who voiced concern over the outlook of US government bonds, calling on Washington to ease worries about US assets.
China is the biggest holder of US government debt and has invested an estimated 70 per cent of its $2 trillion stockpile of foreign exchange reserves, the world’s largest, in dollar assets.

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