> The Chinese move seems political to me, in re: the QE2 palaver.
Dagong isn't some Astroturf group cooked up to make headlines. Judging by its mandate, stated methodology and research reports, it's clearly meant to be a sovereign ratings agency, design to help cash-rich Chinese institutions make informed decisions about foreign investments around the world. So this isn't about some quick exit from the US dollar, but about a long-term diversification of trade and investment towards the other BRICs and rising semiperipheral economies -- the sinews of multipolarity.
-- DRR