Is anyone else looking forward, really looking forward to The Safecracker's Beijing trip next week? We certainly are. Reuters says this:
U.S. Treasury Secretary Timothy Geithner has a chance next week to persuade anxious Chinese authorities their investments in huge and growing volumes of U.S. debt securities are safe and sound.
His visit to Beijing must deal with tough economic realities: the United States is issuing new debt in record volumes as it seeks to finance an array of programs to right its economy, while China is growing nervous about whether its U.S. "nest egg" is secure.
Of course, much hinges on the Timster's visit. A small error could spell big problems. So we've put together a little "DOs" and "DON'Ts" list. We know Tim reads us, so we're confident this will smooth things over and keep things on the up and up.
DO: Make sure your visa is in order before getting on the government jet.
DON'T: Bring sunscreen. The smog takes care of that for you.
DO: Bring Treasury brochures and marketing materials. We are particularly partial to the "Safe Savings For Education" series.
DON'T: Try to avoid the VAT. We know it is tempting. Just trust us. They aren't as forgiving as confirmation committees in the United States. And, no, Tim, there is no "TurboTax 2009: The Chinese VAT" software add-on.
DO: Bring enough lubricant. Xie Xuren will want some minions to try before he buys.
DON'T: Present a Publisher's Clearing House sized check for "Six Dollars" marked "Paid In Full" at the bottom. Chinese humor can be difficult to manage and the consequences of failure are extreme.
DO: Beg. It works in the East.
DON'T: Bow when the cameras are rolling. Duh.
DO: Be polite to your secret-police minder.
DON'T: Ask him about the execution/organ harvesting vans unless you want a personal tour.
We are pretty confident that, if he follows our advice, Timmy will manage his way back just fine. (Though sitting on the plane for double digit hours on the way home might be a tad painful).
Geithner to Beijing: Keep buying our debt [Reuters]