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by Gong Shengli Boxun reports that on Tuesday March 24 China's Central Bank Governor Zhou Xiaochuan issued a statement, "Thoughts on Reforming the International Currency System." On Wednesday March 25 he issued "On the Savings Rate Problem" and on Thursday March 26 he issued "Inquiry into Changing the Macro and Microeconomic Cyclicality." The same day, the UK daily Financial Times newspaper stated, "China has stated that it hopes to end the international reserve currency status of the US dollar. This is an idea worth considering. Zhou Xiaochuan has called for an international reserve currency to balance the US dollar's influence. But when the European Union's Trade Commissioner addressed the media on this issue, he said: 'The problem is that no specific implementation mechanism has been proposed. This is not a change that can be implemented in one day.'" Full Chinese report at: http://news.boxun.com/news/gb/china/2009/04/200904031820.shtml © Copyright 2009 by Boxun News Top of Page |
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