US President Joe Biden attends an economic briefing in the White House. Under Biden, a less confrontational approach to US trade with China would help stabilise exchange rate tensions. Photo: EPA-EFE US President Joe Biden attends an economic briefing in the White House. Under Biden, a less confrontational approach to US trade with China would help stabilise exchange rate tensions. Photo: EPA-EFE
US President Joe Biden attends an economic briefing in the White House. Under Biden, a less confrontational approach to US trade with China would help stabilise exchange rate tensions. Photo: EPA-EFE
David Brown
Opinion

Opinion

Macroscope by David Brown

Why China will have a tough time decoupling from the US dollar

  • When weighed against the risks, US Treasuries still offer the best returns for China’s massive reserve stockpile. Diversifying into the euro and yen, for example, would mean giving up yield

US President Joe Biden attends an economic briefing in the White House. Under Biden, a less confrontational approach to US trade with China would help stabilise exchange rate tensions. Photo: EPA-EFE US President Joe Biden attends an economic briefing in the White House. Under Biden, a less confrontational approach to US trade with China would help stabilise exchange rate tensions. Photo: EPA-EFE
US President Joe Biden attends an economic briefing in the White House. Under Biden, a less confrontational approach to US trade with China would help stabilise exchange rate tensions. Photo: EPA-EFE
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.