The image details the lack of balance between the U.S. and China and, similarly, between the EU and China, in terms of exports and imports. It shows how China is hording the return from that trade, building up its foreign currency reserves as a result.
This imbalance is driving the U.S. and EU to push China to increase the value of the yuan. China is pushing back saying that the U.S. and EU, to a lesser extent, are devaluing their currencies via quantitative easing.
From Der Spiegel (click for a larger version):
Photo: Der Spiegel