The article itself looks like blogspam, but it links to a Bloomberg report speculating the same thing. The pulled quotes are the meat of the Bloomberg article.

The article itself looks like blogspam, but it links to a Bloomberg report speculating the same thing. The pulled quotes are the meat of the Bloomberg article. Basically, an deputy governor of the PRC bank gave a speech yesterday saying "it’s no longer in China’s favor to accumulate foreign-exchange reserves" and there is language in a guidebook they released yesterday guiding the PRC to take a less interventional approach in currency markets. This is bad, but not quite as immediately catastrophic as the blogspam makes it sound.