Plundering China's reserves

According to this article published Friday 27 October by The Wall Street Journal, with China's foreign-exchange reserves now close to the trillion dollar mark, calls to spend the money are coming fast and furious.

"China's $1 trillion central bank reserves can't be spent freely, any more than assets held by any other big bank, such as the $1.6 trillion of assets on Citigroup's balance sheet," the article says.

"Instead, China's cash pile represents dollars bought by the central bank from Chinese

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