To be sure, an injection of US Treasuries into the banking sector, and their subsequent conversion to renminbi, would still strengthen China’s currency. But the rise would most likely be offset by capital outflows, as looser capital controls would enable savers to escape the financial crisis.
Compte tenu de cela, en cas de crise, la Chine devra très probablement commencer à vendre son immense réserve de dette américaine.