It has been on the cards for a few years now.
China is a back door imperialist. It prefers to control countries through economic means, like a large supermarket controlling a dairy farmer's milk production. Many parts of Africa are now controlled by China and Australia is succumbing to a huge influx of Chinese capital. This is part of a long term plan of world domination.
Meanwhile China has its hand around the testicles of America. It owns huge amounts of US debt and is watching carefully at its holdings (bloomberg). It wants the yields, it wants the currency. It wants to keep its currency artificially low and own commodities. The US want it to revalue the currency and sort out its human rights.
China has the upper hand and is playing the long gain.
Human Rights (AP)
Chinese sex to cause price inflation (reuters)
RBS to be renamed ITB (Irish Toxic Bank) (reuters)