““Major reserve-currency issuing countries excessively print money to get out of their own economic difficulties, posing a policy dilemma for emerging economies,” Jin said in Macau today, without naming any countries. “That will impose greater pressure on capital inflows, bigger bubbles in asset markets and inflationary pressure.””
http://www.bloomberg.com/news/print/2010-11-13/china-assails-monetary-easing-citing-imported-inflation-bubble-risks.html
Editors at the WSJ concur:
“The root of this embarrassment is political and intellectual: Rather than leading the world from a position of strength, Mr. Obama and Treasury Secretary Timothy Geithner came to Seoul blaming the rest of the world for U.S. economic weakness. America's problem, in their view, is the export and exchange rate policies of the Germans, Chinese or Brazilians. And the U.S. solution is to have the Fed print enough money to devalue the dollar so America can grow by stealing demand from the rest of the world.”
Update:
MARY ANASTASIA O'GRADY (cool name) of the WSJ examines the impact of Fed’s QE2 on Brazil
Economist’s Cover Story: China buys up the world
http://www.economist.com/node/17463473