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China's Wealth Woes
Key Excerpts from Article on Website of Newsweek
Newsweek, September 4, 2006
Posted: November 11th, 2006
http://www.msnbc.msn.com/id/14535192/site/newsweek/
Posted: November 11th, 2006
http://www.msnbc.msn.com/id/14535192/site/newsweek/
With its dollar hoard rising at $17 billion a month and about to pass the $1 trillion mark, Beijing is finding out that it is possible to have too much money. Beijing's growing dollar hoard represents the most dangerous imbalance in today's global economy. The United States is both importing heavily from China and borrowing heavily from the country to finance those purchases, pushing the dollar down and putting the two economic superpowers on a collision course.
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