online.wsj.com - 3/26/2009
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[Zhou Xiaochuan, governor of the People's Bank of China.] Reuters Zhou Xiaochuan, governor of the People's Bank of China.
politico.com - 3/25/2009
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politico.com —
Geithner, at the Council on Foreign Relations, said
the U.S. is "open" to a headline-grabbing proposal by...
the governor of the China's central bank, which was widely reported as being a call for a new global currency to replace the dollar, ...
(more)
Geithner 'open' to China proposal
ft.com - 3/23/2009
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ft.com —
China’s central bank on Monday proposed replacing the
US dollar as the international reserve currency with a...
new global system controlled by the International Monetary Fund. In an essay posted on the People’s Bank of China ’s website, Zhou Xiaochuan, ...
(more)
FT.com / Asia-Pacific - China calls for new reserve currency
online.wsj.com - 3/26/2009
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online.wsj.com —
As if the dollar didn't have enough problems,
Timothy Geithner took China's bait yesterday and said he...
was "quite open" to its suggestion this week to displace the greenback with an "international reserve currency." The dollar promptly fell and stocks ...
(more)
China and the Dollar
Comments
Blog Reactions
Michele Bachmann Just Can't Help Herself
Politics Daily —
... , which Bachmann presumably has as her homepage), lies in China's suggestion that a global reserve currency be established to back financial transactions between nations, as is done in IMF transactions. The reserve currency would alleviate the instability caused by relying on the dollar, with its fluctuating value. This propsal is fairly radical, but it has nothing to do with eliminating national currencies. ...
To Push or to Pull, That is the (G-20) Trillion Dollar Question.
Firedoglake —
... We can see this from, for example China openly agitating for using the Special Drawing Rights of the IMF, XDR in financespeak, rather than the US dollar as the world's "reserve currency." We see it also in a plan authored by a UN commission headlined by Joseph Stiglitz to have a ...
Obama, Hu Agree To 'US-China Strategic Economic Dialogue' (VIDEO)
The Huffington Post | Full News Feed —
... However, though the US and Chinese economies are inextricably linked, the Chinese have recently grown more dissatisfied with this long-held arrangement. Last week, China's central bank governor Zhou Xiaochuan published a paper calling for a new global currency to replace the dollar. Moreover, as the Financial Times notes, China is using the momentum from Mr. Zhou's proposal to flex more economic muscles in London this week. ...
Obama, Hu Agree To 'US-China Strategic Economic Dialogue' (VIDEO)
Politics on HuffingtonPost.com —
... However, though the US and Chinese economies are inextricably linked, the Chinese have recently grown more dissatisfied with this long-held arrangement. Last week, China's central bank governor Zhou Xiaochuan published a paper calling for a new global currency to replace the dollar. Moreover, as the Financial Times notes, China is using the momentum from Mr. Zhou's proposal to flex more economic muscles in London this week. ...
Another Sign of Too Much US Debt: India Trades Dollars for Gold
Just Politics..? Daily Feed —
... As a result, there is a need to get away from the dollar and instead create an international “basket” of currencies: ...
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