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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: LLCF who wrote (47152)2/22/2006 6:10:22 PM
From: RealMuLan  Read Replies (1) of 116555
 
Come on, those dollar reserve (<50% of all foreign reserve of China last time I heard) is barely enough to pay China's foreign debt. Why do you say they are toasted? I think those creditors still would rather have worthless US$<g> than RMB?<g> Not?

Yuan is NOT peged for US$ any more. Zhou Xiaochuan has made it public and said "The weighting of the US dollar in China's currency basket used as a reference for the value of the yuan is much less than 50 pct".
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