Der Dollar und der Drache

CAMBRIDGE – Seit mehreren Jahren drängen amerikanische Regierungsbeamte China, seine Währung neu zu bewerten. Sie beklagen sich, dass der unterbewertete Renminbi eine unfaire Wettbewerbssituation schaffe, amerikanische Arbeitsplätze vernichte und zum Handelsbilanzdefizit der Vereinigten Staaten beitrage. Wie sollten die US-Beamten also darauf reagieren?

Kurz vor dem jüngsten G-20-Treffen in Toronto hat China einen Plan angekündigt, mit dem eine bescheidene Aufwertung des Renminbi möglich wäre, doch sind einige amerikanische Kongressmitglieder nicht davon überzeugt und drohen damit, die Zölle für chinesische Waren anzuheben.

Amerika saugt chinesische Importe auf und bezahlt China in Dollar, während China insgesamt 2,5 Billionen Dollar Devisenreserven besitzt, einen Großteil davon in US-Treasuries. Für einige Beobachter stellt dies eine grundlegende Verschiebung der globalen Machtverhältnisse dar, da China die USA in die Knie zwingen könnte, indem es mit dem Verkauf seiner Dollars droht.

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