Obama Administration Tries to Reassure China on Treasury Debt
奥巴马政府设法让中国对其财政债券恢复信心
March 14 (Bloomberg) -- The U.S. sought to ease Chinese Premier Wen Jiabao’s concern about the security of his country’s investments in U.S. government debt, reiterating pledges to cut the budget deficit in half in four years.
三月１４日（彭博通讯社）---美国为了让中国总理温家宝减轻其对他的国家的政府债务的投资担心，一再强调在未来四年内减少一半的财政治赤字。
“There’s no safer investment in the world than in the United States,” White House Press Secretary Robert Gibbs said yesterday at a briefing in Washington.
“世界上再没有比在美国投资更安全的地方了”白宫发言人罗伯特-吉布斯昨天在华盛顿的新闻发布会上说。
Gibbs was responding to comments from Wen that China, the U.S. government’s largest creditor, is “worried” about its holdings of Treasuries and wants assurances that the investment is safe. “I request the U.S. to maintain its good credit, to honor its promises and to guarantee the safety of China’s assets,” Wen said at a press briefing in Beijing.
吉布斯是在回应是中国温家宝的的讲话，中国，是美国最大的债权人，其 “担心”该国持有的财政性债券，并要求确保这些投资的安全。“我要求美国信守其信用，遵守承诺，保证中国投资的安全”温在新闻发布会上说。
President Barack Obama is relying on China to sustain buying of Treasuries amid record amounts of U.S. debt sales to fund a $787 billion stimulus package and a deficit this year forecast to reach $1.5 trillion. Investors abroad own almost half of all U.S. debt outstanding, and China last year overtook Japan as the biggest foreign buyer.
总统奥巴马也正依靠中国继续购买其财政性债券，总计达到７８７０亿美元的经济刺激经济，今年的赤字预计会达到１.５万亿美元。海外债权差不多占有美国示偿付债务的一半，而中国在上一年超过日本成为最大的外国买家。
Wen’s comments contributed to a decline in Treasuries yesterday. Yields on benchmark 10-year notes rose as high as 2.96 percent, from 2.85 percent a day earlier, and closed at 2.89 percent.
温的评论引起昨天债券下跌，１０年期基准收益率升到２.９６%，开于前一天的２.８５%，但收于２.８９%。
White House National Economic Council Director Lawrence Summers, asked yesterday about Wen’s remarks, said overseas “confidence” in Treasuries would be hurt without the administration’s steps to end the economy’s decline.
白宫的国家经济委员会主席劳伦斯-萨默斯，被问到有关温的看法时，其说道如果政府不出政策去结束经济的下跌，海外对财政债券的“信心”会受到伤害。
Japan, China
日本，中国
China held $696 billion in U.S. Treasury debt as of Dec. 31, more than Japan’s holdings of $578 billion. Foreign holdings of U.S. Treasury debt at the end of last year totaled $3.1 trillion.
在１２月３１日止，中国总持有６９６０亿美元的财政债券，比日本的５７８０亿美元还要多。海外对财政债券的持有在上一年末总共达到３.１万亿美元。
The Treasury also offered a response that sought to reassure investors.
财政部也作出恢复财政债券投资者的信心的回应
“The U.S. Treasury market remains the deepest and most liquid market in the world,” Treasury spokeswoman Heather Wong said in an e-mailed statement. “President Obama is committed to taking the steps necessary to restore growth and put this country on the path of fiscal sustainability, including cutting the long-term deficit in half over the next four years.”
“美国的国债市场依然是世界上最大最透明的市场”财政部发言人哈德-黄在一封电子邮件中说道。“总统奥巴马已作出承诺会采取必要的措施去恢复经济增长，然后把国家带到一条可持续财政的道路上来，包括在未来的四年内把长期赤字砍低一半”
During the first five months of fiscal 2009, which began Oct. 1, the U.S. budget deficit swelled to a record $764.5 billion for the period, compared with a $265 billion shortfall during the same period a year earlier. The shortfall this year already has exceeded the record $459 billion gap for all of 2008.
在２００９财政年度前五个月的期间，从去年十月一日开始（到今天三月份），美国的财政赤字膨胀到７６４５亿美元的记录，超过了上一年同一时期２６５０亿美元。今天的短缺已超过２００８年全年的４５９０亿美元缺的记录。
‘Stronger Position’
更强大
The administration is “tackling many long-ignored problems, ensuring that the U.S. will be in a stronger position than ever,” Wong said. “We are facing whatever challenges come up and will continue to do so.”
政府正在“正在觖决很多被长期忽略的问题，确保美国比以前更强大”黄说，“无论面对什么样的挑战，我们都会继续做下去。”
Treasuries have handed investors a loss of 2.7 percent in yuan terms this year, according to Merrill Lynch & Co.’s U.S. Treasury Master index. Chinese holdings of the securities surged 46 percent last year, according to Treasury Department data.
根据美林公司的国债务总指数，美国国债投资者以人民币计算这一年有２.７%的损失。同时根据美国财政部的数据显示，中国持有美国财政债券的量在上一年增加了４６%。
“Of course we are concerned about the safety of our assets,” Wen said after an annual meeting of the legislature. “To be honest, I am a little bit worried.”
“当然我们很关切我们的投资的安全”温在年度人大会议结束后说，“坦白说，我有一点担心”
Diversifying Reserves
储备多元化
China should seek to “fend off risks” as it diversifies its $1.95 trillion in foreign-exchange reserves, Wen said. Yu Yongding, a former adviser to the central bank, said in an interview on Feb. 10 that the nation should seek guarantees that its Treasury holdings won’t be eroded by “reckless policies.”
中国应该要设法“抵御风险”，比如把他的１.９５万亿美元的外汇储备多元化，温说。YU YONGDING,以前中央银行的顾问，在二月１０日的采访中说，国家应该寻求多方保障，这样财政债券的持有才不会被这些“轻率的政策”所腐蚀.
Treasuries have benefited from demand as a haven in the past two years as financial companies reported $1.2 trillion in credit losses. China boosted holdings of government debt as it lost more than $5 billion from investing $10.5 billion of its reserves in New York-based Blackstone Group LP, Morgan Stanley and TPG Inc. since mid-2007.
国债在过去的两年间成了需求的避风港，因为金融公司有１.２万亿的信贷损失。中国政府加大持有美国财政债券是因为他从２００７年开始投资于纽约的摩根和黑石的１０５亿美元损失超过５０亿美元。
“China won’t sell the U.S. debt now as that will only drive down Treasury prices, hurting not only the U.S. but also the value of its own investments,” said Shen Jianguang, a Hong Kong-based economist at China International Capital Corp., an investment bank partly owned by Morgan Stanley.
“中国现在不会出售美国的债券，国为这样只会拉下财政性债券的价格，受伤的不仅仅是美国也会是他们的持有的投资价值”SHEN JIANGGUANG说，一家在中国的摩根持有股份的国际公司的香港的经济学家。
U.S. Secretary of State Hillary Clinton urged China, while visiting officials in Beijing on Feb. 22, to continue buying U.S. debt, which she called a “safe investment.”
美国国务卿希拉里-克林顿，２月２２日，当她与北京官员会面的时候，促使中国继续购买美国的债券，她称为“安全的投资”
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发表于 2009-3-16 09:24
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