China Urges Responsible U.S. Policy, Stable Dollar

From Reuters:

China will again press the United States at high-level talks next week to protect Beijing’s extensive U.S. investments by pursuing sound policies and keeping the dollar stable, a senior official said on Wednesday.

China holds an estimated 70 percent of its $2.13 trillion in currency reserves in dollar assets, mainly government bonds, and officials have expressed worries that massive U.S. pump-priming to revive the economy could sow the seeds of inflation.

“As an important investor in U.S. debt, we of course are concerned about the state of the ,” Assistant Finance Minister Zhu Guangyao told a news conference.

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