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China says dollar to remain leading world currency
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E-mailMade Popular Jul 7 2009
United States :
* Vice minister sees dollar pre-eminence for years to come
* Idea of new reserve currency is ‘academic discussion’
* China appreciates U.S. govt efforts for stable dollar
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ROME, July 5 (Reuters) -...
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Nathaniel
Jul 7 2009
London,
United Kingdom
We live in strange times. China is the single largest user of US dollars for import and export, the US is now in second place. Because of that, US monetary policy is more decided by Beijing than Washington DC.
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(Global Perspectives)
A stable Dollar is in the interest of Chinese government. If the dollar tanks, a very large portion of Chinese holdings will be worthless.
(Local Perspectives)
Chinese diplomacy is very strange. They have floated the idea of an alternative to the dollar as global reserve currency and now they want the Dollar to remain as global currency.
(Global Perspectives)
Nothing strange in this statement. China want to protect it's investment.
(Global Perspectives)
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