Dollar Crisis in the Making

Here's a recent three-part series by W Joseph Stroupe on Asia Times. It's a great round-up of China's position relative to the U.S. dollar, and reaches the conclusion that China may have $450 billion in assets "hidden" from official statistics, and will use these dollars to make resource purchases all around the globe. He posits that China's near-term goal is to reduce U.S. dollars to 50% of reserves so that it is inoculated from changes in exchange rates. Read the whole article, as it gives plenty of background and supporting evidence.
Part 1: Before the stampede
Part 2: The not-so-safe haven
Part 3: China inoculates itself against dollar collapse