ARTICLE: Top Chinese economist: 'There's no alternative to the dollar', by Justin Fox, The Curious Capitalist, September 9, 2009

The Chinese are not stupid. While a third balancing global reserve currency is needed (the euro is not enough), they have no pretense about the yuan magically stepping up to that role any time soon.

This will take time, and in the meantime, there's no point disparaging the dollar when you hold about $2T of them.

(Thanks: Critt Jarvis)