The Chinese are getting a free lunch. They fix their currency to the dollar at an artificially weak rate to maintain export competitiveness. They accumulate trillions in forex reserves and then start a whisper campaign that they are uncomfortable holding so many dollars, weakening the dollar. Since their currency is pegged to the dollar, the Yuan weakens right along with it relative the the euro, the yen, the real… They’re laughing all the way to the bank as the market does their bidding and increases China’s export competitiveness.