China Focus: Office established to handle forex reserve loans

The Chinese are hedging their gargantuan dollar exposure.  By lending out their huge dollar reserves, they will effectively devalue the dollar, while using said dollars to accumulate assets to counterbalance dollar devaluation.

Why is this important to Americans?  Expect higher import prices--and higher prices on everything.

http://news.xinhuanet.com/english/china/2013-01/14/c_132102317.htm