http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100027105/suspicion-grows-that-china-is-exporting-deflation-worldwide-by-driving-down-yuan/
Holdings by entities in Belgium have jumped to $341bn from $169bn last
August. This would appear to explain how China's FX reserves have kept
rising to $3.95 trillion even as its custody holdings in the US itself
have been falling. If so, China is playing dirty pool.''
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