China alarmed by US money printing

China is beginning to show distress over US credit easing , According to Cheng Siwei a top member of the communist regime in china . He sees a risk of serious decline in Dollar over next few years that may offset a change in China's Foreign reserve policy

"(telegraph.co.uk) -- We hope there will be a change in monetary policy as soon as they have positive growth again," Siwei said at the Ambrosetti Workshop, a policy gathering on Lake Como.

"If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies," he said.

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