Monday, April 20, 2009

China wants closer surveillance of major reserve currencies

China wants closer surveillance of major reserve currencies

China sovereign wealth fund plans more investments in Europe

Reforms to the international financial system should include "strengthened surveillance" of the economic policies of nations that issue the most important reserve currencies used in global trade, said Wen Jiabao, China's premier. The U.S. was not mentioned by name, but Chinese officials recently expressed concern about the nation's assets held in U.S. dollars.
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