Thursday, May 07, 2009

What is China doing with its dollars? Buying iron ore

Those who think that China holds so many dollars and US Bonds that it must continue to support the dollar (ie. buy more Treasuries), better look at how China is converting its dollars into assets, like iron, copper and oil. Bloomberg: China said its major ports unloaded 24 percent more iron than in April last year, a record for a second month.

read more | digg story

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