All’s Good, Then

The Beijing PR machine is cranking into gear in its inimitable style to dampen rumors that China might exercise its nuclear option of dumping its U.S. dollar denominated assets to stop Washington from taking action against it on another front.

Xinhua is carrying a prominently played interview with an unnamed central bank official saying U.S. dollars and Treasuries are “an important part of China’s foreign reserve investments”.

“China is a responsible investor in international financial markets, and our country’s foreign exchange reserves are managed with the operational goals of safety, liquidity and profit,” the official added, showing an impeccable command of central banker speak.

Well, that’s all right then.

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Filed under China-U.S., Economy

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