Snow: China Move won't Hurt U.S. Economy

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002904-snow-china-move-wont-hurt-us-economy/

By Rex Nutting, MarketWatch

China’s intention to diversify its huge foreign-exchange reserves away from the U.S. dollar won’t hurt the U.S. economy, Treasury Secretary John Snow said Tuesday.

Chinese diversification won’t impact foreign investment in the United States because its capital markets are the deepest and most liquid in the world, Snow said.

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