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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

US dollar backed as reserve currency

Posted on 02 June 2009

From FT: A leading Chinese financial official on Monday rejected suggestions the US dollar could be replaced quickly as the global reserve currency, as US Treasury secretary Tim Geithner arrived in China on his first official visit.

“In the short term I don’t think we can find another currency to replace the US dollar,” said Guo Shuqing, chairman of China Construction Bank and former head of the country’s foreign exchange administrator………Full Article (Subscription Required) : Source


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