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Re: China trims Treasury holdings yet again. Only $17B sold in January 2010 to foreigners
http://www.nytimes.com/2010/04/13/world/13summit.html
Originally posted by GRG55
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http://www.nytimes.com/2010/04/13/world/13summit.html
April 12, 2010
Mr. Obama sought to win more cooperation from China by directly addressing one of the main issues behind Beijing’s reluctance to confront Iran: its concern that Iran could retaliate by cutting off oil shipments to China. The Chinese import nearly 12 percent of their oil from Iran.
Mr. Obama assured Mr. Hu that he was “sensitive to China’s energy needs” and would work to make sure that Beijing had a steady supply of oil if Iran cut China off in retaliation for joining in severe sanctions.
“Until two weeks ago, the Chinese would not discuss a sanctions resolution at all,” the official said. But the Obama administration, in hopes of winning over Beijing, has sought support from other oil producers to reassure China of its oil supply. Last year, it dispatched a senior White House adviser on Iran, Dennis B. Ross, to Saudi Arabia to seek a guarantee that it would help supply China’s needs, in the event of an Iranian cutoff.
Mr. Obama sought to win more cooperation from China by directly addressing one of the main issues behind Beijing’s reluctance to confront Iran: its concern that Iran could retaliate by cutting off oil shipments to China. The Chinese import nearly 12 percent of their oil from Iran.
Mr. Obama assured Mr. Hu that he was “sensitive to China’s energy needs” and would work to make sure that Beijing had a steady supply of oil if Iran cut China off in retaliation for joining in severe sanctions.
“Until two weeks ago, the Chinese would not discuss a sanctions resolution at all,” the official said. But the Obama administration, in hopes of winning over Beijing, has sought support from other oil producers to reassure China of its oil supply. Last year, it dispatched a senior White House adviser on Iran, Dennis B. Ross, to Saudi Arabia to seek a guarantee that it would help supply China’s needs, in the event of an Iranian cutoff.
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