If China was to gradually replace its dollar reserves with other currencies such as the euro, a further rise of the common European currency against the dollar will take place, experts warn.
On 7 November, Cheng Siwei, vice-chairman of the standing committee of the National People's Congress, said that China needed to diversify its $1.43 trillion of foreign exchange reserves, replacing the dollar with "stronger currencies" in order to offset the losses caused by the weak dollar.
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