China threatens Obama
Close on the heels of Saudi Prince Alwaleed bin Talal, issuing a warning to Citigroup CEO Vikram Pandit, China, the largest holder of US treasury bonds issued a similar warning to President Obama to “perform or perish”.
The threat was issued in an official communiqué passed on by Chinese ambassador to US on Saturday. “It's very important... for the bondholders who have been very patient with Obama administration to understand that the honeymoon is over now; one year is enough and China feels that this administration will deliver in 2010," the communiqué said. The words seemed quite similar to the ones used by Alwaleed, though the Chinese were quick to deny any link.
"Obama has had his chances and this one will be the last. We have run out of patience and if Obama doesnt deliver now, he might as well make way for someone who can..." the communique said.
The communiqué was issued by a lower rung Chinese foreign ministry official and sort to put pressure on Obama administration to put the US economy back on track. “Obama is definitely not doing enough and we are indeed worried about the state of affairs. As the largest bondholders, we will use all our influence to ensure that Obama stays focused on economic recovery and is not swayed by his own speeches. He is spending too much time on his speeches; let him do some real work now or we will have him replaced soon,” threatened a Chinese official who didn’t want to be named.
US government officials were too scared to comment. One official who did open his mouth was mumbling something in a feeble voice. While shivering vigorously, he anonymously said “I don’t think Obama will be around soon unless China is satisfied with his commitment to economic recovery and that is not the case now. We are indeed scared and the president does not even want to whisper anything on this,” he said.