Dollar Weakens on World Markets

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Concerns over big spending in Washington have hurt the dollar on international markets.

The greenback had its worst week since 1985 last week as the Federal Reserve offered its plan to spend hundreds of billions of dollars to help the mortgage market.

Click the player to watch the CBN News report followed by Pat Robertson's comments concerning China's investment in the U.S.

Many investors worry that huge spending from all of the financial rescue plans will eventually lead to inflation and weaken the dollar's value internationally.

China to Continue to Buy Up U.S. Debt

Meanwhile, Chinese officials say China will continue buying U.S. government debt while paying close attention to possible changes to those assets.

They say investing in U.S. treasury is "an important component part of China's foreign currency reserve investments.".

These statements deal with concerns that rising the debt to fund Washington's stimulus package could drive inflation and weaken the dollar.

China is Washington's biggest foreign creditor, holding an estimated $1 trillion in U.S. government debt.

A weaker dollar would wear down the value of those assets.

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