If China Moves Away from Holding Dollars Then It Will be Doing What Bush-Obama Requested

The Washington Post had an article reporting on a commentary from a Chinese government owned news outlet that implied the country might move away from holding dollars. The article should have pointed out that such a move would be consistent with the publicly stated demand of both the Bush and Obama administrations that China stop "manipulating" its currency.

The way that China would "manipulate" its currency (keep its price down against the dollar) is by buying up huge amounts of dollars. If...