Chinese Bank Wants U.S. Bonds Issued in Yuan

what Jim Rogers was warning about for years seems starting to become reality , is it the end for the US treasury bonds , China a major client of the FED treasury bonds wants them issued in Chinese Yuan and no more in US dollar , this will certainly put an extra pressure on the already weakening dollar read the following article from the British paper Telegraph :
Malcolm Moore
Telegraph
June 8, 2009

Guo Shuqing, the chairman of state-controlled China Construction Bank (CCB), also said he is exploring the possibility of issuing loans to trading companies in yuan, allowing Chinese and foreign companies to settle their bills in yuan rather than in dollars.
and promote the yuan as a major international currency.

It was the first time the head of a major Chinese bank has called for the wider use of the yuan, although a chorus of senior government officials have already voiced their concerns about the stability of the dollar and have said the yuan should be used more widely.

“I think the US government and the World Bank can consider the issuing of renminbi bonds,” he said, asking for a “mutual cooperation” between the US and China to promote Chinese financial services. He said bond issuance could be relatively small, at between 1bn and 3bn yuan (£100m to £300m).

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