BEIJING – China is calling for a new global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week’s London summit on the financial crisis.
The surprise proposal by global financial system dominated by the dollar and Western governments. Both the United States and the European Union brushed off the idea.reflects unease about its vast holdings of U.S. government bonds and adds to Chinese pressure to overhaul a
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Source: Associated Press