China says G20 should monitor US Fed

China's state media has issued a new broadside at the US Federal Reserve's move to prime the US economy, suggesting the Group of 20 should monitor policy shifts by the US central bank.

"There is an urgent need for the G20 ... to set up a new mechanism that effectively monitors the issuer of the international reserve currency, especially when it is not able to carry out responsible currency policies," Xinhua said.

"It is necessary for the issuer of the international reserve currency to report to and communicate with the G20 group before it makes major policy shifts."

Webmaster's Commentary: 

This is likely to happen only when pigs fly, but you have to commend China for the innovative suggestion :-)

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