They say that laughter is the universal language. Treasury Secretary Geithner learned this today in China.
Mr Geithner, in China on his first visit as US Treasury Secretary, sought to allay concerns that Washington’s growing budget deficit would fan inflation which, in turn, would undermine the dollar and US bonds.
“Chinese assets are very safe,” Mr Geithner said, answering a question after his opening address at Peking University this morning.
His answer was greeted with laughter by the students, who question the wisdom of China spending huge amounts of money on US bonds instead of improving domestic living standards.
At least Geithner will be able to find another career when this is over.