Wen Jiabao Concerned About U.S. Treasury Securities

Wen said the following at a news conference Friday, following the close of China's annual legislative session:

"President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures. We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried. I would like to call on the United States to honor its words, stay a credible nation and ensure the safety of Chinese assets."

When was the last time someone expressed concern over the U.S.'s ability to pay its debts? It's a new world, isn't it?

Kelvin Lau, regional economist at Standard Chartered in Hong Kong,
said:

"China is telling the U.S. to be careful, not to overspend and keep an eye on the dollar. There are risks that China cannot control, so they're depending on the U.S. to maintain fiscal prudence and keep the dollar reasonably stable."

It's also interesting for those criticizing the stimulus package. China has a huge stimulus package planned, too:

Wen outlined a $585 billion stimulus plan for China, calling it "a massive government investment." It will be "mainly for projects that include people's well-being," -- technological upgrades, environmental protection, increased farm subsidies, infrastructure and housing projects, including improved housing for people living in shanty towns, he said at the annual session, during which he answered questions from reporters for about two hours.