Sr. China Official Says China Should Guard Against a Weak Dollar Policy

Perhaps we should guard against lead, melamine, and plastic rice..

“(Reuters) – China should guard against risks from “excessive” holdings of U.S. assets as Washington could pursue a policy to weaken the dollar, a senior currency regulator said in comments published on a website that briefly pushed the dollar lower.

However, the comments by Guan Tao of the State Administration of Foreign Exchange were quickly removed from the website at his request. He told Reuters the comments had been made in private academic discussions and represented his personal view only.

“We must be alert of economic and political risks in excessive holdings of U.S. dollar assets,” Guan, head of the international payment department at SAFE said in the article on the website of China Finance 40 Forum, a Beijing-based think-tank of Chinese economists, bankers and officials. (www.cf40.org.cn)”

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