Press TV - KA/HGH/SS, 12/01/13
China is dropping the US dollar for other currencies.
The decision by the Central Bank of China to no longer accumulate foreign exchange reserves in dollar has infuriated the United States, an analyst says.
Finian Cunningham made the remark in a Sunday column for Press TV amid escalation of tensions between US and China over Beijing's enforcement of an Air Defense Identification Zone (ADIZ).
“The escalation of military tensions between Washington and Beijing in the East China Sea is superficially over China’s unilateral declaration of an air defense zone. But the real reason for Washington’s ire is the recent Chinese announcement that it is planning to reduce its holdings of the US dollar,” he wrote.
More: PressTV.ir
