What do you think about China favoring the Euro over the U.S. dollar?

I don't blame them. The USA has no checks and balances on the way it spends money. Congress wants to spend more then they got they ask the federal reserve to print more. The USA is deficit spending up the wazoo. Hyper inflation is on it's way the only way we can avoid hyper inflation would be to increase our GDP which isn't going to happen unless we cut the trade deficit completely and have a trade surplus.

China and the U.S. are sparring like an old married couple in various forms of economic tug of war, cyber attacks, war games, military posturing and grandstanding, and public opinion propaganda. The American people need to wake up to the increase of political and economic influence that China has in this country.

China's threat to leave the U.S. dollar as the reserve currency is just more calculated political jousting. The next regional war or conflict should emerge within a year or so, probably in Iran. The foreign powers and investors will come running back to the U.S. dollar again, and so will China. Don't bet against the U.S. dollar.

Politically it makes sense. China's leaders want to show independence from the US. From a business perspective it's a bad move. China owns a lot of US debt. If the dollar falls in relation to the Euro then China will lose a lot of money.

it's not just the way we are spending more than we can ever possibly pay back. we are starting to monetize our debt. in other words, the treasury is starting to print worthless money to pay off debts and to buy its own debt. anyone who isn't looking for a lifeboat as the obamatrons increase the deficits by 10 fold has rocks in their heads. the thing is, as bad as our economy is and as bad as the spending is, there are like 6 eu countries that are crying for bailouts and getting them. this is the equivalent of california, new york, and new jersey needing federal bailouts (which could happen). i GUARANTEE you, repubs are going to come out with another "contract with america" in october that will include a balanced budget ammendment adhering to GAAP, tax code reform, and border security measures. let's see obama veto any of that after he loses congress in november and see how he does in 2012. it's "the era of big goverment is over" all over again or it will be 2 lame duck years for bumma

Considering the enormity of the US debt...which ultimately devalues the US dollar...and no apparent end in sight for reckless government spending...I can understand China's choice.

Bully for them. But for now, the dollar is more stable than the Euro, thus a better investment.

Who cares? You can use the U.S. dollar anywhere unlike the Euro.

Bound to happen. With the overspending we've been doing, it only makes sense that our credit would be crap.

more power to them , i hope they trip out over those islands and Taiwan, bring it little yellow china man !

... I don't like it but I don't blame them.

We should take our jobs back from them.