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Keeps getting worse, as we think we need them and continue to kowtow to their demands:
By Deborah Solomon and Jonathan Weisman
Nov. 12 (Bloomberg) — Global recession. Free trade. Security. Climate change. Afghanistan. Iraq. North Korea.
Barack Obama sure has lots to discuss on his maiden voyage to Asia as U.S. president. Yet all this is just conversation compared with the real issue on Asiaâ€™s mind: a wobbly dollar thatâ€™s putting the regionâ€™s money at risk.
Think of this trip as a visit to Americaâ€™s banker, and an unpleasant one. Asia wants assurances that the U.S. can repay its fast-mounting debt and prevent a dollar crash. The reality dawning on Asia is that Obama canâ€™t offer them such a pledge — not with U.S. borrowing so out of control.