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China's Problems with the Falling Dollar are its Own Fault
Filed in archive Yuan Renminbi by Greg Cruey on October 11, 2009
China's Problems with the Falling Dollar are its Own Fault
© somegeekintn


Peter Morici has an interesting analysis of the current situation with the US dollar and China's yuan.
As the dollar falls against the euro, yen and other major currencies, China and other emerging economic powers holding lots of dollars and U.S. securities are crying foul, and for an end to the dollar’s central status in global commerce.

If they are truly disgusted, they should look to themselves for answers.
Morici goes on to trace events from the 1970's when Nixon ended fixed gold prices and the Bretton Woods system of government-enforced fixed exchange rates failed to 1995 when China's binge buying of US Dollars really started. He the places blame for the current recession squarely at the feet of countries like China who manipulate the value of their currencies - and buy dollars for security.

It's an interesting piece of insight into the current currency situation.



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Tags: dollar  yuan  china  2009  more  falling+dollar  china+problems  dollar+fault 
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