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U.S. Dollar Is F*CKED: Toronto, Switzerland To Become Yuan Currency Trading Hub… China Radio – “The U.S. And Europe Have Always Suppressed The Rising Price Of Gold”

Fairly soon (within next two years?), when yuan swap lines are in place at all major currency trading centers, China will announce that all Government restrictions on the on/offshore ownership of yuan (and Chinese government bonds) are removed.

At that point the US t-bond market will implode, as the yuan takes over from the USD as the world’s reserve currency.

Switzerland Will Join Race to Be Trading Hub for China’s Yuan

Switzerland plans [...]

Bloomberg: China Has Biggest Trade Shortfall Since 1989 on Europe Turmoil

From Bloomberg:

China had its largest trade deficit since at least 1989 last month as Europe’s sovereign-debt turmoil damped exports and imports rebounded after a weeklong holiday.

The shortfall was $31.5 billion, the customs bureau said yesterday. Imports rose 39.6 percent from a year earlier, after a 15.3 percent slump in January, while exports increased 18.4 percent, the bureau said. Data in the first two months are distorted by the timing of [...]

ALERT: China economic annual growth slows “considerably” from November’s 22.1% to 11.8%:

Growth in China’s exports slowed in December because of sluggish demand from the US and Europe.

Exports rose by 13.4% from a year earlier, the customs agency said, down from 13.8% in November.

Import growth also slowed, rising 11.8% compared with the previous year, much lower than the 22.1% growth in November.

The latest figures could fuel worries that the world’s second largest economy is losing steam.

China’s Vice Commerce Minister Zhong Shan [...]

A Big Red Alert: Chinese premier Wen Jiabao sends an ominous warning on the economy

From Bloomberg:

Chinese Premier Wen Jiabao said business conditions may be “relatively difficult” this quarter and monetary policy will be fine-tuned as needed.

“We see downside pressure on our economy and elevated inflation at the same time,” Wen said during a two-day trip to Hunan province, according to a statement on the government’s website yesterday. “We also face problems of weakening external demand and rising costs for companies.”

Economists at Barclays Capital and [...]

CHINA’S `NOT TOO OPTIMISTIC’ ABOUT EXPORTS IN 2012, CHEN SAYS

Bloomberg headlines confirm the Chinese export-led growth dynamo is growing dimmer by the day:

CHINA’S `NOT TOO OPTIMISTIC’ ABOUT EXPORTS IN 2012, CHEN SAYS
CHINA’S TRADE GROWTH MARGIN DECLINED IN DECEMBER, CHEN SAYS
CHINA EXPORTS 2 PERCENTAGE POINTS LOWER IN EACH MONTH OF 4Q
CHINA 2011 IMPORT GROWTH RATE 5 PCT POINTS HIGHER THAN EXPORTS
CHINESE COMMERCE MINISTER CHEN DEMING SPEAKS AT GENEVA BRIEFING

Translation: the next several Chinese monthly surplus reports will not be pretty, [...]