China Loses Faith in Dollar

China Has Lost Faith in Stability of U.S. Dollar, Top Chinese Economist Says at World Forum

DAVOS, Switzerland (AP) -- China has lost faith in the stability of the U.S. dollar and its first priority is to broaden the exchange rate for its currency from the dollar to a more flexible basket of currencies, a top Chinese economist said Wednesday at the World Economic Forum.

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Source: Associated Press By Edith M. Lederer, Associated Press Writer