Bank Of Baku

China blasts U.S. debt problems, urges new global reserve currency

China blasts U.S. debt problems, urges new global reserve currency
# 06 August 2011 11:22 (UTC +04:00)
"China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets," China’s official news agency said in a commentary.

"International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country," it said.

The United States lost its top-tier AAA credit rating from Standard & Poor’s on Friday.
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