Chinese official says U.S. has responsibility to maintain stability of dollar

ROME, July 5 (Xinhua) -- Chinese Vice Foreign Minister He Yafei said here on Sunday that the United States has the responsibility to maintain the stability of U.S. dollar, adding that the U.S. dollar would still be the most important major international reserve currency in years to come. He, who was accompanying Chinese President Hu Jintao to visit Italy and attend the G8 Summit, said the U.S. dollar is a major reserve currency in the settlement of the international trade, and the U.S. government has the responsibility to maintain the stability of the currency. Speaking at a pre-G8 summit briefing, He said many countries had called for the stability of the U.S. dollar, adding that "that's natural" for China to voice concern of "safety of assets in the United States." He said China appreciates the efforts of the U.S. to... [read full story]                    

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