China has accumulated enough financial resources to induce borrowers US and EU to share power, argues Arvind Subramanian, senior fellow jointly at the Peterson Institute for International Economics and the Center for Global Development. ­In an exclusive interview to RT the author of Eclipse: Living in the Shadow of China’s Economic Dominance explained how disputable currency policies from creditor... 

Confidential diplomatic cables from the U.S. embassies in Beijing and Hong Kong lay bare China’s growing influence as America’s largest creditor. As the U.S. Federal Reserve grappled with the aftershocks of financial crisis, the Chinese, like many others, suffered huge losses from their investments in American financial firms — from Lehman Brothers to the Primary Reserve Fund, the money...