China

The Yuan vs. the Dollar

By Ling Woo Liu | July 22, 2009 | +

Here’s Michael Schuman’s piece on China’s plans for replacing the dollar.

Related Topics: dollar, yuan, China

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    Spillover - Lebanon’s Daily Star reports on escalating violence inside the country after soldiers shot dead a prominent anti-Bashar al-Assad Muslim preacher Sunday. “The gravity of the incident… prompted leaders on both sides of the political divide to call for calm and restraint to prevent the country from sliding into sectarian strife as a result of a spillover of the 15-month-old uprising in neighboring Syria,” it says.

  • conscienceinchina

    Great! Long live! We Chinese people have now stood up!

    http://www.epochtimes.com/gb/9/7/22/n2597789.htm
    (A very good article accounting for China’s “prosperity”)

  • conscienceinchina

    I refuse to see any statistic data fabricated by the CCP authorities. I just know more and more factories are still being closed; more and more people, no matter workers and businessmen, are staying at home all day; a fearful number of stores are notifying “looking for taking over”; this afternoon while I were buying foods, by courtesy, I asked a saleswoman “how about your business”, immediately she cried out “no one comes for them” pointing at a pile of vegetables in front of her (actually 6:00 p.m. her vegetables would be rotten if never be sold out); while house prices soaring(only can be bought by plutes, not wealthies), stock market re-prospering, great leaders spouting…

  • conscienceinchina

    Renminbi should be renamed as “金圆券”. Please click to learn it:

    http://zh.wikipedia.org/wiki/%E9%87%91%E5%9C%93%E5%88%B8

  • conscienceinchina

    How long will a Wumao work for a house in China:

    1. A common house (80-100 sq.m.) in Chinese city is at least worth one million yuan by now, later will be much more expensive;

    2. One single comment created by wumao is worth 0.5 yuan, so a one-million-yuan’s relatively cheaper house will cost them 1000000/0.5=2000000 comments;

    3. Suppose they create 50 comments one day, 2000000/50=40000 days;

    4. 40000/365=109.58904 years.

    Conclusion: A house will cost a Wumao 109 years to work.

  • johnsmith9876

    We should all encourage China to replace US dollars with RMB as the media of international trade, and we should convince all Chinese that this will be great for China. China will dominate the world, not just in finance and trade, but also militarily. The sooner Chinese think they are on top of the world the better off all of us are. But be prepared that they will still blame the US for all troubles in China, including falling bridges, collapsing buildings, black lung disease, etc.

    You don’t have to believe any number CCP puts out. All we need to do is to convince all Chinese to believe what CCP puts out. That should do the trick.

  • kuifromsydney

    How dare you, China!!!

    The US of A is the only brand allowed to dominate the planet forever. The US of A possess democracy and freedom therefore is supposed to impose suctions, isolations, drop bombs, overthrow governments and set up puppet governments. Those who listen and cooperate with the US of A are allowed to run their governments. US of A never worry whether they are dictators or not. They are our allies as long as they listen to us. Those who donot will have to taste our Weapons of Democracy. US of A has CIA, FBI, NED, and countless NGOs. US of A will support their seperatists and political oppositions if US of A is unable to isolate/suction/bomb them. Us of A’s non-millitary warfares works very well. The UN? If it does not do what US of A want them to do then they are made irrelevent. Plus US of A has listening device can be used against the enemies, UN chief and Chinese president had all been targeted, whatelse US of A can not do?

    China wants to use their currency? China is buying a good security door? No way. US of A is used to use $$$ as currency and US of A gets used to kicking doors (of nations) open whenever US of A needs it. US of A has troops stationed around the globe, how dare they! US of A will soon pin down every single country on the planet.

    US of A will soon find another separatist group within China to support. Wait and see. How dare you China!

  • huaren2000

    The article basically says that the Chinese are interested in making the RMB an international currency. In the short term because China holds a lot of U.S. treasuries, they would have to help prop up the USD. (Btw, China has made currency swap deals with Russia and South Korea too.) Obviously if the USD is trashed, the world will gravitate towards a more reliable currency.

    Since the RMB is not fully convertable, the Chinese are taking baby steps and experimenting towards making it float freely – a prerequisite for an international currency.

    For TIME readers truly interested in understanding the “big picture”, I highly recommend this article:

    “U.S. National Debt and relationship to China”
    http://dl.lightroomgalleria.com/china/?p=95

  • bylooker

    Thanks for your calculation. Keep on working by posting more rubbish. You will get there!

  • chinabriefing

    Chinese “Fenqing” Nationalists Discovered to be North Koreans

    In a project commissioned by the European Council CSFP, researchers from the California Institute of Technology and MIT unveiled their results today on a study of irregular Chinese internet behaviour.

    Using a complex algorithm, researchers linked internet and forum postings with daily social dialogue. The results showed that the behavior of ordinary Chinese people and those of the so-called “fenqing Chinese” on the internet have no relationship at all.

    Professor John Sanford, a reknowned computer scientist, said: ‘There are absolutely no similarities between the two sets of observed behavior. We delved deeper into the issue by conducting an elaborate investigation on the internet users’ I.P. addresses. To our amazement, the I.Ps all originated from North Korea.’

    His colleague, Dr. Mike Dickens, said that ‘this was probably the most incredible hoax, if not a scam, ever conducted by a country…so significant are the results it may affect U.S. foreign policy as well as current trends in psychological research of Chinese people.’

    On the contrary, the report showed that the behavior of “Chinese fenqing” and North Korean extremists matched exactly. Only recently, North Korea lashed out at U.S. Secretary of State Hillary Clinton using terms like ” “vulgar remarks” that it said demonstrated “she is by no means intelligent.” A cursory glance at any “Chinese fenqing” post would show that their comments are almost an exact replicate.

    Western concerns of a menacing China should be eased with the publication of this study. Much has been said about the “China threat” due to an alleged rise of Chinese nationalism, evidenced by extreme, ultra-nationalistic xenophobia on the Chinese internet. It now seems almost ridiculous that these fears were so widespread and yet so ungrounded – North Koreans masquarading as “Chinese fenqing” are as scary as a TeleTubby: crude, immature and pathetic.

  • kuifromsydney

    The post above was posted by a skillful liar.

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