World-Record China Reserves Pass $3 Trillion in Policy Challenge for G-20
By - Apr 14, 2011 6:02 AM GMT-0300
China’s foreign-exchange reserves exceeded $3 trillion for the first time and bank lending accelerated, signaling an escalation in the global economic imbalances that Group of 20 finance chiefs are trying to rein in.
China’s currency holdings, the world’s biggest, swelled by $197 billion in the first quarter, the nation’s central bank said on its website. A separate report showed new loans were a more-than-estimated 679.4 billion yuan ($104 billion) in March.
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Comment: What to do with that heap of money? Well, spend it. What for? Buy food supply and natural resources. Consequence: do as the Chinese do. Buy and don't look back because prices are risen and they will go up dramatically more so in the future.
China’s currency holdings, the world’s biggest, swelled by $197 billion in the first quarter, the nation’s central bank said on its website. A separate report showed new loans were a more-than-estimated 679.4 billion yuan ($104 billion) in March.
Read more
Comment: What to do with that heap of money? Well, spend it. What for? Buy food supply and natural resources. Consequence: do as the Chinese do. Buy and don't look back because prices are risen and they will go up dramatically more so in the future.
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