China’s Foreign Currency Reserves Top $850 Billion
March 29, 2006
March 28, 2006 – China’s foreign currency reserves hit $853.7 billion by the end of February, according to a state-run newspaper in China. China’s massive foreign currency reserves, the amount of foreign currency a government holds in its accounts, may potentially pass Japan as the World’s largest.
China’s currency manipulation and unfair trade practices helped them establish a global trade surplus of $101.9 billion last year. The U.S. had a $200 billion trade deficit with China.
Read the entire Associated Press article.