China's currency reserves 2007
43 percent to 1.5 trillion U.S. dollars
BEIJING, 12 January (RIA Novosti). The
currency reserves of China last year grew by 43.32 percent to 1.53 trillion U.S. dollars
.
told the People's Bank of China on Saturday with
in Beijing. Monthly the reserves have grown by an average of 38.5 billion
dollars. Financial experts point out that the yuan
against the U.S. currency consolidates continuously - in 2007 alone, at six percent.
submitted last Friday, the Chinese central bank set the Wechselurs on
7.2672 yuan per dollar.
effective use of the huge foreign reserves
China had last year launched a public investment company
to life. From the foreign reserve
200 billion dollars to the capital stock of the company were paid to create the means
primarily abroad.
NB.
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would be surprising if this sum is actually still present in the dollar as a reserve would be, because a year ago, the Americans have already been cited to Beijing to answer questions to stand on the worthlessness of the dollar.
shall look you look at the decline of the dollar, then the Chinese currency reserve has namely increased only slightly. Each export to the United States, paid in dollars, is simply a tribute to the hegemonic power of the owners of the FED. This is called seigniorage actually.
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