China’s Foreign Currency Reserves Top $850 Billion

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.

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