China Threatens to Nuke Dollar
China Counter-Threatens U.S. With ‘Nuclear Option’ of Dollar Sales
Pressure has been mounting in the U.S. Senate for legislation calling for trade sanctions against China in retaliation for alleged currency manipulation. But now the Senate is facing counter-threats from China that could potentially trigger a crash of the U.S. dollar.
The British newspaper, The Telegraph, stated that officials at leading Communist Party bodies have told reporters in recent interviews that Beijing may use its $1.33 trillion of foreign reserves as a political weapon to fight pressure from Congress for China to force a revaluation of the yuan.
Pressure has been mounting in the U.S. Senate for legislation calling for trade sanctions against China in retaliation for alleged currency manipulation. But now the Senate is facing counter-threats from China that could potentially trigger a crash of the U.S. dollar.
The British newspaper, The Telegraph, stated that officials at leading Communist Party bodies have told reporters in recent interviews that Beijing may use its $1.33 trillion of foreign reserves as a political weapon to fight pressure from Congress for China to force a revaluation of the yuan.
posted by HeavyHanded at
9:40 AM
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