The Chinese continue to call for a new global currency not tied to a particular nation.
The current favuorite would be the IMF's Special Drawing Rights.
The US Dollar is the current world reserve currency.
In a dig at the USA:
"The economic development model of debt-based consumption is most difficult to sustain," the PBOC said.
Indeed.
There is clearly angst in China and Russia, but perhaps particularly China because of the vast amount of US Treasuries they hold.
Will the Dollar Tank??
