Dol­lar safe for now, not for­ever: China cbank

The Pak Banker - - Company& -

BEI­JING: The U.S. dol­lar will be safe for the next six to 12 months, be­cause global mar­kets are fo­cused on the euro zone's trou­bles, Chi­nese cen­tral bank ad­viser Li Daokui said on Wed­nes­day when asked about U.S. Pres­i­dent Barack Obama's plan to ex­tend tax cuts for all Amer­i­cans.

But Li, an aca­demic ad­viser on the Peo­ple's Bank of China mon­e­tary pol­icy com­mit­tee, said the fis­cal health of the United States was in fact worse than Europe's, and that U.S. bond prices and the dol­lar would fall when the Euro­pean eco­nomic sit­u­a­tion sta­bilises. He was speak­ing on the side­lines of a fi­nan­cial fo­rum in Bei­jing. -PB News

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