China Alarmed by U.S. Monetary Expansion Policy, Telegraph Says

By Gregory Turk

Sept. 7 (Bloomberg) -- A Chinese official said Beijing was alarmed by the U.S. Federal Reserves’ loose credit policy, U.K.’s Telegraph newspaper reported.

Cheng Siwei, former vice-chairman of the Standing Committee of the National People’s Congress, said he believed the dollar will “fall hard” if the U.S. continues printing money to buy back government bonds.

Cheng spoke at the Ambrosetti Workshop held at Italy’s Lake Como, the newspaper reported yesterday.