Dow Jones gikk over 11.000 for første gang siden juni 2001, men langt viktigere er det at Kina tror dollaren skal falle, og ikke vil investere like mye i dollarpapirer.
China’s leaders have steadily invested the bulk in one primary vehicle: the U.S. dollar.
But on Monday came the latest recent sign that China has grown worried about tying its savings so closely to the dollar, a currency that many economists think is due for a fall. A senior economist at China’s State Council — the equivalent of the cabinet — said in an interview that China is moving toward a new policy of buying fewer U.S. Treasury bills while shifting slightly toward buying assets that trade in other currencies.
China now boasts the world’s second-largest stock of foreign exchange reserves after Japan, and with roughly three-fourths of those holdings now invested in the U.S. dollar and dollar-backed assets such as bonds and real estate, even a slight shift in the composition of China’s investments could push the value of the greenback down, some analysts said.