BUDD, SHAHEEN LEAD RESOLUTION TO MAINTAIN U.S. DOLLAR RESERVE CURRENCY STATUS AS CHINA COMPETES FOR GLOBAL FINANCIAL INFLUENCE

WASHINGTON, April 30 -- Sen. Ted Budd issued the following press release:

U.S. Senators Ted Budd (R-N.C.) and Jeanne Shaheen (D-N.H.) today reintroduced their bipartisan resolution in support of the United States dollar maintaining its status as the world's reserve currency. Additionally, the resolution affirms the need to keep the U.S. dollar at the forefront of global financial systems as the People's Republic of China (PRC) continues its concentrated efforts to internationalize the Yuan and expand their influence in developing nations.

"Continued cooperation and sustained success in international trade rely on the U.S. dollar maintaining its status as the global reserve currency. For years, the PRC has sought to expand its global finan...