China: Feeble Dollar Is Hurting Our Economy

'Out of control' printing of dollars is triggering inflation, says minister
By Rob Quinn,  Newser Staff
Posted Oct 28, 2010 4:10 AM CDT
China: Feeble Dollar Is Hurting Our Economy
A weak dollar is likely to send the Chinese yuan upwards.   (AP Photo/Ahn Young-joon)

China has countered American anger over its artificially low currency with a complaint of its own. America is printing dollars at an "out of control" rate, sending up commodity prices around the world and saddling China with "imported inflation," the country's commerce minister grouses. Inflation in China—which holds roughly $2 trillion in foreign-exchange reserves—hit a 23-month high last month and is expected to peak later this year, Reuters notes.
(More inflation stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.