Dollars & Sense: All about China; whistle-blower risks everything
Chinese President Hu Jintao arrives at Andrews Air Force Base in Maryland for a full state visit.
January 18th, 2011
05:18 PM ET

Dollars & Sense: All about China; whistle-blower risks everything

A roundup of today’s CNNMoney news:

China, the new landlord of the United States: China is the largest foreign holder of U.S. debt. Despite that, many politicians are talking tough about China's artificially low currency and how it affects our trade relations.

Why China matters: China has by far the faster-growing economy, even though the U.S. is still three times as large. And an increasing number of schools are adding Chinese language classes to their curricula.

Crime-torn city losing half its cops: Camden, New Jersey, is struggling to close a $26.5 million budget gap. To make that happen, its boys in blue are cutting jobs. But they’re not alone. Nearly 25% of cities said they were cutting their public safety budgets in 2010.

Citizen Ponzi scheme sheriff (video): How a Minnesota investment banker risked everything to uncover a $160 million Ponzi scheme.

Facebook won't share your phone number: The social networking site slipped in the feature quietly, but now says it will put the brakes on as users worry about privacy issues.

Toyota one year later: After a slew of recalls, the automaker’s sales are down, market share is down and resale values are down.

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Filed under: China • Crime • Dollars & Sense • Economy • Facebook • Politics • Technology
soundoff (20 Responses)

    ok if we owe china say 1 gillion dollars, why would we want them to raise the value of the currency? if the doubled the price of their money wouldnt that mean we owe them 2 gillion dollars?

    btw it looks like shopping at walmart and buying everything made in hina is working.. thanks maytag.

    January 18, 2011 at 5:35 pm | Report abuse |
  2. phybrr

    No, the opposite is true. If China already has 1 "gillion" dollars and they double the value of their currency, then that 1 gillion dollars is now worth 1/2 gillion. Of course, we would have to pay twice as much for future purchases as the dollar would be worth 1/2 as much relative to the yuan.

    January 18, 2011 at 6:51 pm | Report abuse |
  3. Cesar

    Everyone is always talking about China; their economy,(who is Hu?) politics, new jets. China China China....Marsha. Marsha...Marsha.

    January 18, 2011 at 7:08 pm | Report abuse |

    it's just a matter of time till they poison us all with tainted food from walmart.

    January 18, 2011 at 7:12 pm | Report abuse |
    • Jack

      The Chinese are very different from the Middle East people. There is no gain for them to kill us. Most of them want to be American and live in American lifestyle. USA is the second country that has the most Chinese population, after Indonesia, Thailand, and Malysia.

      January 19, 2011 at 9:12 am | Report abuse |
  5. Joey Buttafudgio

    I received chinese tires from wallmart as a promo,tread separation before 2000 miles......

    January 18, 2011 at 7:33 pm | Report abuse |
  6. Daniel

    I see that the stupid war in Afghanistan takes priority over everything, even law enforcement as evidenced in Camden,NJ. The MIC(military-industrial-complex) runs everything these days.

    January 18, 2011 at 8:03 pm | Report abuse |

    @DANIEL duh..we need that oil!!

    @joey i put kuhmos on the back of my camaro and powerbraked for only a min or three and they were shredded..

    also ever notice chineese people dont shop at walmart...

    January 18, 2011 at 8:38 pm | Report abuse |
  8. kim

    Facebook needs to be sued. They already had privacy issue an now they have two teen facing felony charges for cyber bulling. Im on facebook but i gave very little information and i know for dam sure I WOULD NOT GIVE MY PHONE NUMBER OR ADDRESS FOR ANY REASON. Most of these people are NOT MY INTIMATE FRIENDS and I WOULD NOT WANT THEM TO HAVE ACCESS TO THAT INFORMATION. To many people out there waiting to make a victim of someone, idenity thief is growing problem credit theft and then you have to worry about the creep, weirdos, perverts, stalkers and cyber bullies. Im going to deactivate my status because FACEBOOK CAN GO TO HELL FOR ALL I CARE! My privacy is more important to me!

    January 18, 2011 at 8:51 pm | Report abuse |

    lol... cyber bulling.. like if you dont like what people are saying delete it, or cancel your internet.

    i mean if i went downtown dressed in a clan outfit and wondered why the black people were picking on me would that be there fault?

    just like if you dont like whats on tv turn it off.

    January 18, 2011 at 9:10 pm | Report abuse |
  10. chrissy

    omg! my world seems to be falling apart cuz i swear i just agreed with ruffnutt on several issues. it must be the end is near lmao

    January 18, 2011 at 10:21 pm | Report abuse |
  11. chrissy

    although im kinda certain gillion isnt a word.

    January 18, 2011 at 10:23 pm | Report abuse |

      short for ga-zillion

      January 18, 2011 at 10:53 pm | Report abuse |
  12. JayJay

    is soysaucing a word??

    January 18, 2011 at 10:47 pm | Report abuse |

      yes it's a verb. as in, i was soysaucing my breakfeast buritto cause i was high and thought it would taste good.

      January 18, 2011 at 10:57 pm | Report abuse |
  13. JayJay

    @RUFFNUTT. yeah. not many Chinese shopping at Walmart. I think they like Target more

    January 18, 2011 at 10:52 pm | Report abuse |
  14. Sidewinder

    China has been pegging their own currency against the US dollar which can deliberately knock US manufacturers out of business that compete in the same markets. If China raises their currency then imported goods from China will be less attractive to US buyers. Why not purchase from France, Italy, Sweden? An investigation uncovered there was enough proof to determine China was illegally subsidizing their aluminum extrusions, hence countervailing duty on certain tariffs to level the playing field.

    January 19, 2011 at 7:44 am | Report abuse |
  15. Palin

    Cmon people do not let those politicians play with your mind,they know how to print ,they made machine to print why not print a lot

    January 19, 2011 at 9:15 am | Report abuse |
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