China is selected from the dollar trap

The global economy rules igry01-06-2009 China is selected from the dollar trap China feels uncomfortable in the role of lender of United States. In the XXI century Celestial became a hostage of the American economy. Reserves of the People's Republic of China (PRC) on the $ 2 trillion consist of dollar-denominated assets (of which about $ 700 billion - U.S. Treasury bonds). And if Beijing does not want these reserves are impaired, he is forced to continue to lend to a budget deficit of the United States. "Now, when the fact of the U.S. economy and currency, called into question, China can not afford to start sharply to get rid of him. This would have a devastating impact on many countries, triggering a sharp drop in the dollar and gold reserves of several countries, especially that of China ", - said in an interview to a leading analyst Bigness.ru" Eurofinances Svetlana Mitrofanov. However, this situation can not last forever. China makes very specific steps to overcome the dollar dependence. Authorities Celestial sights on the cornerstone - for world supremacy of the dollar. As recently as March this year, the head of China's central bank offered to replace the dollar as international reserve asset, a basket of currencies defined by the International Monetary Fund.