U.S. is currency war's "tomb maker": China economist

Devaluation of the currency after a huge accumulation of debt during the previous expansion has been going on long before the recent media recognition of burgeoning "currency wars". China, which still maintains a soft peg to dollar, is also printing money in effort to support the current global financial system. This has been going on for years. What's new is the growing anger towards the extent to which the solution will be carried at the expense of those whom support it. Watch the government bond auctions and China’s US Treasury holdings. Changes their will represent actions. Actions are more important than words.

Chinese leaders have warned before that loose monetary policies in the United States pose a serious challenge for emerging markets, but rarely in such strident language, a window onto the rising anger in Beijing.

Source: reuters.com