China Consider the future

What do you do with a trillion dollars’ worth of foreign currency? That is the investment question that the People’s Bank of China should be asking. China’s state-owned bank isn’t alone. Thanks largely to the huge US trade deficit, government institutions in several countries - such as Abu Dhabi and Singapore - have accumulated huge portfolios of dollars. But China, which will cross the 13-digit barrier any day now, has the biggest single collection. Up to now, China has hardly engaged in inves...