Thursday, March 15, 2012

Japan to purchase 65 billion yuan in China government debt

Despite the benign title, further reading of this article points to more evidence of another nail in the coffin for the USDollar in its role as the global reserve currency, and ultimately, its existence.
Japan said on Tuesday it had received approval from China's government to purchase 65 billion yuan ($10.3 billion) in Chinese government debt in a move that can help Japan diversify its reserves away from the dollar and strengthen economic ties between the two Asian countries.

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