Coping With China's Financial Power.

The article focuses on China's use of its financial might in foreign policy. It states that in March 2009, the head of the People's Bank of China suggested that the International Monetary Fund should cease using the U.S. dollar as the world's reserve currency and create a new currency to take its place. It mentions that China has been internationalizing its currency, the renminbi, incrementally by allowing some nations to pay for Chinese imports with the renminbi, but that China still does not let the renminbi convert freely into foreign currency. It comments on the interdependence of China and the United States financial and economic markets and on U.S. debt possessed by China. It talks about China's foreign direct investment in nations in Asia, Africa, and Latin America.