Cruxellaneous

How China is dumping the dollar

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From The Business Insider:

China is sitting on $2 trillion worth of Treasuries and other foreign paper that is becoming worth less with each passing day.

What's an ambitious, developing country to do? Put the dollars to work, buying the world.

"We should hasten the implementation of our ‘going out’ strategy and combine the utilisation of foreign exchange reserves with the ‘going out’ of our enterprises,” Wen Jiabao, the country’s premier told Chinese diplomats at the end of July.

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