Even if the Chinese become even more powerful as they lend even more money to the Americans, they do find an open confrontation with America too risky. For that the Chinese are too new on the global stage.
The brand-new Porsche just made it to the 97th floor; and only in an upright position. The door of the goods elevator of Shanghai World Financial Centre, the second largest building in the world, barely closed. At the top of the building, the new Panamara, the four-door Porsche coupe, was presented to the world for the first time. Never before has a vehicle premiere in China been celebrated like this.
The prime interest rate levels have hit 'record lows' and fiscal deficits 'have soared', is the sobering analysis of Zhou Xiaochuan, Governor of the People's Bank of China, on the global economy.
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