07
Sep
09

China alarmed by US money printing

By Ambrose Evans-Pritchard

Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive, said Beijing was dismayed by the Fed’s recourse to “credit easing”.

“We hope there will be a change in monetary policy as soon as they have positive growth again,” he said at the Ambrosetti Workshop, a policy gathering on Lake Como.

“If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies,” he said.

READ THE REST

Advertisements

0 Responses to “China alarmed by US money printing”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s


Recent Comments

Erica on Ron Paul: Audit the Fed U…
B-Ran on Xinjiang: China’s…
B-Ran on DeFazio’s Reply
lanecountyliberty on Rep Boehner on Climate Change…
lanecountyliberty on My Letter to Rep DeFazio

Pages

September 2009
M T W T F S S
« Aug    
 123456
78910111213
14151617181920
21222324252627
282930  
Advertisements

%d bloggers like this: