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The New DU. Reply #11: China will diversfy, but no one is buying their USD holdings.
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Sun Aug-15-10 09:29 PM
Response to Reply #2 |
| 11. China will diversfy, but no one is buying their USD holdings. |
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They can't dump USD without hurting themselves (and us) in the process. They clearly understand this and are moving to diversify at a rate that provides security, but not economic devaluation. We need to understand this and prepare for the future when the USD loses it position in the world trade market. That's what happens when you no longer have the world-s #1 financial instrument.
Remember this. It wasn't US economic policy that screwed us. It was US corporate policy that looks out for this balance sheet, not the greater good. This being said by a small entrepreneur who has tried to adapt to the changing rules.
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