A lesson from Deuteronomy 15:6

you shall lend to many nations, but you shall not borrow; you shall reign over many nations, but they shall not reign over you (Deuteronomy 15:6)

Chinese foreign-exchange reserves hit record US$ 2.5 trillion


China’s foreign-exchange reserves, the world’s largest, have reached a record US$ 2.5 trillion, adding fuel to complaints that the nation’s currency policy is undermining the global economic recovery because of Beijing’s refusal to revalue the yuan, deemed undervalued by many.

China’s currency holdings rose by about US$ 48 billion in the third quarter, according to the median estimate in a Bloomberg News survey. In a few days, the People's Bank of China is expected to release the actual figure.

Comment: Chinese language studies, anyone?


  1. Case to point: China stakes claim to S. Texas oil, gas

    "State-owned Chinese energy giant CNOOC is buying a multibillion-dollar stake in 600,000 acres of South Texas oil and gas fields, potentially testing the political waters for further expansion into U.S. energy reserves.

    With the announcement Monday that it would pay up to $2.2 billion for a one-third stake in Chesapeake Energy assets, CNOOC lays claim to a share of properties that eventually could produce up to half a million barrels a day of oil equivalent.

    It also might pick up some American know-how about tapping the hard-to-get deposits trapped in dense shale rock formations, analysts said.

    As part of the deal, the largest purchase of an interest in U.S. energy assets by a Chinese company, CNOOC has agreed to pay about $1.1 billion for a chunk of Chesapeake’s assets in the Eagle Ford, a broad oil and gas formation that runs largely from southwest of San Antonio to the Mexican border."

  2. I'm probably going beyond what the context of the verse will support here, but it would suggest that the Communist Chinese--murderers of 50 million of their own people (+/-) in the Cultural Revolution and oppressors of all--are in some ways more righteous than us.

    Ouch. Not going to argue the point here....


Any anonymous comments with links will be rejected. Please do not comment off-topic