Home Business China’s gold stockpiling is dollar warning sign – Asia Times

China’s gold stockpiling is dollar warning sign – Asia Times

by News Desk
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TOKYO—One of the world’s central banks’ best-kept secrets is just how much Chinese officials exchange dollars for gold.

Governor Li Gang’s team People’s Bank of China I don’t really admit it. But given the distinct policy trajectory pursued by Chinese President Xi Jinping in recent years, the PBOC need not.

Xi’s position hasn’t changed much as other governments recognize that confidence in the world’s reserve currency is waning and that alternatives to the dollar are desperately needed.

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