Tuesday, June 09, 2009

Top China Banker Demands US Sales of "Yuan Bonds"

On Sunday, Guo Shuqing, a top Chinese Banker, suggested the US and World Bank sell bonds denominated in Chinese yuan.

"I think the U.S. government and the World Bank can consider the possibility of issuing renminbi bonds in the Hong Kong market and the Shanghai market," he said.

The clamor by China for a diversification of the US-centric world of finance continues to grow louder by the day, it seems.

Hat tip: Ed Steer at Casey Daily Resource Plus for finding this story

Over the weekend, we mentioned that the US dollar may be due for a short term rally, and that rally is likely to be shortlived. After a big day yesterday, the dollar is in the tank today...could the rally be over already? Even we didn't think it'd be that shortlived!

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