Precisely Wrong

"I would rather be vaguely right than precisely wrong"

-J.M. Keynes

Making it easier to buy Chinese securities is akin to making purchases of any weapon system in the United States instantly legal. I should just stop talking about this issue entirely as there seems an eery correlation between my agitation levels and subsequent official U.S. action in China.

Treasury Secretary Timothy F. Geithner will urge China to allow higher interest rates when he meets with Chinese leaders this week, as the U.S. extends its push for a stronger yuan.
Geithner will say China should relax controls on the financial system, give foreign banks and insurers more access and make it easier for investors to buy Chinese financial assets, said David Loevinger, the Treasury Department’s senior coordinator for China. Officials from both nations are meeting in Washington today and tomorrow as part of the annual Strategic and Economic Dialogue.