Here's two terms from Euro magazine that I do not recall being
applied to the U.S. Government:
" China is one of the few Asian borrowers which, according to market rumour, had the market savvy and the
resources to buy back its own debt as spreads widened. "
" Hong Kong provides a positive example. It regularly runs a
budget surplus, but began issuing treasury bills and notes at
the start of the 1990s, added liquidity-adjusted facilities,
made contributions to the provident fund compulsory and
recently set up the Hong Kong Mortgage Corp. Bindra
says: "One hopes all the domestic markets can develop on
these lines, especially if central banks share the same spirit
of cooperation with which they have tried to fight speculators."
Kindly take note Wall STreet Journal woman reporter... The Eurpoeans
have the class to credit a country with "market savy". They talk
about "positive examples" , "budget surplus" and "cooperation".
To all domestic publications, I would say, If you aren't going to print the whole story, don't print any of it. EEnough Ugly Americans have been overeas already.
Doug |
