An economist warns: "China in trouble if Washington devalues". And the article is removed from the web

China should be wary of holding too much US assets such as Treasury bills because the US could pursue a policy of devaluing the dollar. Guan Tao, the official in charge of the International payment department of the State administration for foreign exchange, the control body that supervises the Chinese currency markets, put it on paper. The article in which Guan sounded the alarm was first published on the website of China Finance 40 Forum, a Beijing think tank and then removed with the justification that it was nothing but the personal opinions of the author. “The United States – stated the article – have an expansive monetary and fiscal policy aimed at stimulating growth and may not resist the temptation to weaken the dollar”. Words that have helped to bring down the prices of the American currency against the main currencies including the euro and make them touch historic lows against the Swiss franc. Beijing has never officially declared the amount of US Treasury bonds it holds, but according to some economists around 70% of China's foreign exchange reserves (which today total the equivalent of over 2 trillion euros) could be denominated in dollars. According to US Commerce Secretary Gary Locke, the share of US Treasury securities in Chinese hands would not amount to more than 8% of the country's total debt.