July 29, 2006
Another Reason To Be Long the Renminbi
S&P Upgrades China’s Credit, Citing Reforms, by Jason Dean
Standard & Poor’s Ratings Services lifted its long-term sovereign credit rating for China to A from A-minus. It cited the huge foreign-exchange reserves generated by China’s booming exports, a stockpile of hard currency on track to surpass $1 trillion this year and one that far exceeds China’s outstanding foreign debt.
One trillion pieces of green-colored paper looking for a home.
Cat: | Time: 4:50 pm (utc+8)