Sunday, August 7, 2011

China calling for new world currency and limits on US dollar printing

China blasts US, urges new global reserve currencyl

Historical moment. Some commentators believe this crisis will be solved by creditors just writing off some of their debt and everyone will go home happy. This will not be the case.

Posted by doom&gloom @ 02:15 AM (1662 views)
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3 thoughts on “China calling for new world currency and limits on US dollar printing

  • This is China having a dig at the Americans – yank-baiting is something of a pastime for the BRICS these days..

    I suspect that when the Chinese talk about ‘a new global reserve currency’ they are alluding (albeit very modestly) to the future role of the Yuan, although they don’t seem too enthused about allowing it to be traded in the way western currencies are..

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  • “International supervision over the issue of US dollars should be introduced” – suggests China is concerned that the US could try to devalue its debt (through QE3, 4, 5, and so on).

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  • i remember the 90`s says:

    Lets hope they devalue it so as to be in a worse state than us i could do with 2 to 1 $ against the £ for my holidays lol.

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