Taking this economic debate a bit globally, senior Chinese officials have publicly expressed an interest in international currency. This is described by Chinese specialists as a sign that they are less confident than they used to be in the value and the reliability of the U.S. dollar. European countries have resisted your calls to spend more on economic stimulus.
March 25 (Bloomberg) — Chinas call for the creation of a new international reserve currency may signal its concern at the dollars weakness and ambitions for a leadership role at next weeks Group of 20 summit, economists said.
Central bank Governor Zhou Xiaochuan this week urged the International Monetary Fund to create a super-sovereign reserve currency. The dollar weakened after the Federal Reserve said that it would buy Treasuries and the U.S. government outlined plans to buy illiquid bank assets.
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