I am working hard today, so no time for a long post. Here’s an interesting news item that is more ammo for the argument I made in today’s UncommonWisdomDaily.com column, “Profit opportunities for the quick and bold”…
China has long way to go to dislodge dollar
China is on the offensive. Long a bystander in international economic affairs, Beijing has in recent weeks announced a string of initiatives for remoulding the global financial system. And they all have one target – knocking the US dollar off its perch.
China has set up a series of swap arrangements with other central banks, including Argentina, South Korea, Indonesia, Malaysia and Belarus, through which it will make its currency available to the other countries if they run out of foreign exchange.
That’s it for today. Have a good Memorial Day Weekend.
More on this topic
(What's this?)
Capitalize on China’s Growth with these dividend stocks
(Dividend Growth Investor, 3/15/10)
Thinking the Unthinkable: What if China Devalues the Renminbi?
(naked capitalism, 2/18/10)
Jim Chanos Is Wrong About Investing in China
(Investment U, 3/3/10)
China to launch its own space station
(China and Asia Stock Alert - Glo..., 3/3/10)
Related Posts
- Have a Good, Long Weekend (08/28/08)
- A Little Humor for Your Weekend Slide (10/02/08)
- Sliding Into the Weekend (08/14/09)
- Weekend Media Fiesta (05/01/09)
- Weekend News Roundup — Insider Selling and More (04/25/09)
{ 0 comments… add one now }