China’s foreign exchange reserves are now over 2 trillion US dollars, nearly twice as much as the next largest holding of 1.02 trillion in Japan.
Chinese stock market value is also just catching up (slightly ahead) with the Japanese to take second place in the world.
But these are all expected results. The old style of, keep your head down and work hard, trusting that hard work will pay off. Rather than solving the financial crisis by talking lots, coming up with more rules for bankers to exploit and printing more money for the next bubble, why not try something different? To solve the root cause, by increasing the real GDP and value of the country.
Click here to an article I read many years ago (2003) by Warren Buffett about the U.S. trade deficit and his view on the dollar. I am posting the link again because it is certainly worth reading again even if you have read it before.