"Russia urged China to dump its Fannie Mae and Freddie Mac bonds in 2008 in a bid to force a bailout of the largest U.S. mortgage-finance companies, former Treasury Secretary Henry Paulson said.
Paulson learned of the “disruptive scheme” while attending the Beijing Summer Olympics, according to his memoir, “On The Brink.”
The Russians made a “top-level approach” to the Chinese “that together they might sell big chunks of their GSE holdings to force the U.S. to use its emergency authorities to prop up these companies,” Paulson said, referring to the acronym for government sponsored entities. The Chinese declined, he said."
The Russians deny it. This is supposed to be part of the Russian-Georgian war, where the Americans were interfering to cause problems to the Russians (it didn't work, and Georgian listening to American neocons cost the Georgian people a great deal).
I wouldn't trust Paulson as far as I could throw him, but it is entirely possible that somebody wanted Paulson to think that such an approach by Russia could be made, and might succeed, in order to put pressure on the adults in the American government to stop using Georgia to fight a proxy war against Russia.
A lot of us would like to see China (and Japan) start to use its vast economic power over the United States to rein in the worst excesses of the American government, particularly those excesses associated with Jew-control. Unfortunately, the Chinese are far more cynical and self-interested to waste their power on issues that don't relate directly to China. It will be interesting to see what, if anything, China does in the economic realm to counter the neocon decision to make Taiwan an issue again (the Jews like to stir up this issue as it increases the military craziness of the world, all to the benefit of Israel). The Chinese could crush the American economy like a bug, but at a huge cost to itself, making Chinese economic power over the Americans a delicate weapon. One positive development: neocon attacks on Iran are making it clear to the Chinese that the real enemy of mankind is American Jewish power.