The financial crisis changes the China-U.S. relationship

Seattle Times by Paul Krugman | Apr. 6, 2009 (Opinion)

just the other day, it seems, China's leaders woke up and realized that they had a problem.

The low yield doesn't seem to bother them much, even now. But they are, apparently, worried about the fact that around 70 percent of those assets are dollar-denominated, so any future fall in the dollar would mean a big capital loss for China. Hence Zhou's proposal to move to a new reserve currency along the lines of the SDR's, or special drawing rights, in ... Full Story »

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Subjects: World, U.S., Business
Topics: Global Economy, China, U.S. Economy, Finance
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Posted by: Posted by Dwight Rousu - Apr 6, 2009 - 5:44 PM PDT
Reviewed by: Dwight Rousu (review)
Content Type: Article
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Edited by: Dwight Rousu - Apr 6, 2009 - 5:44 PM PDT
Related Comments: Global Economy (2)

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Dwight Rousu
4.3
 by Dwight Rousu - Apr. 6, 2009

Krugman gives some insights and background on the Chinese holdings of dollars and their predicament shared by the United States. No strong recommendations here, but quite a bit of insight.

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