现代金钱学 - 111406
WORLD CENTRAL BANK RESERVE COMPOSITION
IMF, MAY 2006 |
| |
WORLD |
U.S. |
China |
| % Paper |
90% |
28% |
99% |
| % Gold |
10% |
72% |
1% |
| Gold Million Ounces |
876 |
262 |
19 |
| Paper Investment$Billions |
$4,616 |
$57 |
$1,044 |
China needs to diversify and sell some US papers that would result in $ devaluation, which is not desirable for China. Its a huge chess game.
From Japan’s experience, yen appreciation was disastrous for Japan.
China has yet to produce good economists such as Robert Mundell or traders like Robert Rubin. Not even close.
Knowledge is still power. |
