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China and the Dollar

By Mike Shuster
Published April 15, 2005 at 12:00 AM EDT

China makes sure its currency does not grow stronger against the dollar by using its vast reserve of dollars to buy U.S. Treasury securities. That helps finance the government's record budget deficits, but there are concerns beyond the purely economic about this relationship.

Copyright 2005 NPR
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Mike Shuster
Mike Shuster is an award-winning diplomatic correspondent and roving foreign correspondent for NPR News. He is based at NPR West, in Culver City, CA. When not traveling outside the U.S., Shuster covers issues of nuclear non-proliferation and weapons of mass destruction, terrorism, and the Pacific Rim.