Meet 'Ben' Jiabao

03/02/2012 | Sid Verma

Can a Ben Bernanke/Wen Jiabao put save the global economy?

And now for some light relief this Friday afternoon. 

The will-China-save-Europe-and-invest-in-the-EFSF narrative has dominated the headlines today as Merkel took the eurozone begging bowl to a business forum in the southern province of Guangdong.  Cue a deluge of articles on the political quid pro quos on offer, the incentive structure behind the EFSF, etc.

But let's not forget: with the ECB publicly ruling itself out as the liquidity lender of last resort for sovereign balance sheets - notwithstanding LTRO - perhaps Chinese premier Wen Jiabao should take a lesson from Fed governor Ben Bernanke, who has thrown everything but the kitchen sink at reducing US government borrowing costs and reflating banks. (Seemingly with a modicum of success if today's US non-farm payrolls are anything to go by.) 

So without further ado, meet the saviour of the global economy: Ben Jiabao.

 

Brace yourselves for the Ben Jiabao put...

* Forgive this reporter's poor production skills, but you get our drift, and they both look surprisingly similar, no? 

** We are also aware of the double-meaning of the word  'Ben' in Mandarin; for the record, we are not attempting to cast any aspersions on the Chinese premier's intelligence. Honest.

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