Paul Lachine

Odezírání ze rtů Číny

NEW HAVEN – Číňané už dlouho obdivují americkou ekonomickou dynamiku. Ztratili ale důvěru v americkou vládu a její dysfunkční ekonomickou správu. Takové poselství bylo jasně a zřetelně patrné během mých nedávných cest do Pekingu, Šanghaje, Čchung-čchingu a Hongkongu.

Debata o dluhovém stropu a rozpočtovém deficitu, jdoucí tak těsně v patách krize podřadných hypoték, je už poslední kapkou. Vysoce postavení čínští představitelé jsou konsternováni, jak Spojené státy dovolují, aby politika trumfovala nad finanční stabilitou. Jistý vysoký funkcionář v půli července poznamenal: „Tohle je vážně šokující… Chápeme politiku, ale vytrvalé hazardérství vaší vlády je ohromující.“

Čína není jen nevinným svědkem amerického sprintu do propasti. Po odeznění asijské finanční krize konce 90. let Čína nahromadila asi 3,2 bilionu dolarů v devizových rezervách, aby svůj systém odizolovala od vnějších šoků. Plné dvě třetiny z tohoto úhrnu – tedy kolem dvou bilionů – jsou investovány do dolarových aktiv, velkou měrou do cenných papírů ministerstva financí a agentur USA (tj. Fannie Mae a Freddie Mac). Čína v důsledku toho koncem roku 2008 předstihla Japonsko coby největší zahraniční držitel amerických finančních aktiv.

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