China tells U.S. to slow money printing presses

“A senior Chinese official said on Friday that the United States should cut back on printing money to stimulate its economy formerly if the world is to have confidence in the dollar.  Asked whether he was worried about the dollar, the chairman of China’s sovereign wealth fund, the China Investment Corporation, Jin Liqun, told the World Economic Forum in Davos: ‘I am a little bit worried.’  China is the biggest purchaser of U.S. Treasury bonds, using its enormous foreign currency reserves primarily to buy U.S. securities as a long-term investment.”

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