China is concerned about the US dollar. They know that the US is devaluing its dollar and they do not like it. They want sometime more secure and has been promoting a more diversified international monetary system that will be less reliant on the US dollar.
April 18, 2009 - BOAO, China (Reuters) – China's Premier Wen Jiabao said on Saturday that economic polices of countries which issue global reserve currencies require closer supervision as part of building a diversified international monetary system. His comments, an apparent reference to U.S. economic management that Beijing has blamed in part for the global financial crisis, were twinned with a pledge to promote more international use of the yuan, China's currency.
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