GOLD CENTURY

[NYBob]

More Chinese economists urge easing out of Treasuries, adding gold
Submitted by cpowell on Mon, 2010-07-19 04:58.
Section: Daily Dispatches

China Should Cut U.S. Treasury Holdings: Economist

By Langi Chiang and Alan Wheatley
Reuters
Sunday, July 18, 2010

http://www.reuters.com/article/businessNews/idUSTRE66I05U20100719

BEIJING -- China should cut its holdings of U.S. Treasury
securities when market demand is strong, a prominent
economist said in remarks published on Monday.

Beijing reduced its Treasury holdings in May by $32.5 billion
to $867.7 billion, but it actually bought a net $3 billion
in long-term Treasuries and remained the largest single holder
of U.S. government debt, the Treasury reported on Friday.

Yu Yongding, a former academic adviser to the central bank
and now a professor with the Chinese Academy of Social Sciences,
said Beijing should invest in assets denominated in other
currencies as well as other financial instruments and real goods.

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