Yuan Tipped To Replace U.S. Dollar, Euro In Southeast Asia

[davejones]

Pretty laughable. When are they going to let their currency float on the open market like everyone else?

It's funny that the US complains about this, but they seem to love many European countries fixing their currencies against the Euro. I think China will allow their currency to float more freely in the years to come, as they have already started doing. But they will do it at a time that suits them, not at a time that suits the US. Many US politicians seem to hate China, so why should China do what the US wants.

The real problem here is that the US has spent decades bullying other countries, but now they have picked on someone that they are unable to bully, and they don't like it. USA have finally met their match.

[Naam]

It's funny that the US complains about this, but they seem to love many European countries fixing their currencies against the Euro.

which European currencies are fixed against the €UR... pray tell?

[rgs2001uk]

The real problem here is that the US has spent decades bullying other countries, but now they have picked on someone that they are unable to bully, and they don't like it. USA have finally met their match.

Love it when these Yank politicians rant on about the Yuan, yet fail to mention QE.

Wonder what they would do if the Chinese stopped buying American debt.

All the USA does these days is issue IOUs, one day people will stop buying them, then what?

[Naam]

The real problem here is that the US has spent decades bullying other countries, but now they have picked on someone that they are unable to bully, and they don't like it. USA have finally met their match.

Love it when these Yank politicians rant on about the Yuan, yet fail to mention QE.

Wonder what they would do if the Chinese stopped buying American debt.

All the USA does these days is issue IOUs, one day people will stop buying them, then what?

you have a valid point but some countries with a huge trading surplus have no other choice than investing the dollar lion share by buying IOUs.

[LawrenceChee]

Davejones is right ....many of those from the west that rant about china have never been in te country itself

I was there when it first started out in the 90s and the infrastructure they have built in the last 15 years amazes even the cynics

They are not perfect and they know it ...it's their confucius values that is asking for tolerance as the west keeps beating them up in the press

As for brutality and human rights issues only when your own country is perfect will that give u a right to judge theirs ...

and we know there is none out there as long as we are honest ...lots of brutality and human rights issues worldwide western or eastern

...don't try to explain to a Asian why he always singled out for secondary inspection by these dumb TSAs ...that's already an insult to human rights to be racially marked !

[Huayrat]

And so say all of us , bullocks, they should do some numbers on China , they'd find she is not running in top condition,the star is starting to fade and has been for the past 2 years, china has a very long way to go Politically, domestically and in a number of important area's is about 25 years behind the USA, as I said bullocks , free speech is allowed on this web site, its doubtful i could say this in China.

You will find that free speech is not allowed on this website

[Naam]

Well, to be fair, both the Greenback and the Yuan are currently based an a whopping amount of US debt. Is there any difference between the two?

33% No one wants to touch the yuan.

please elaborate what you mean by "33%". presently one US-Dollar buys 6.35 CNY. the chinese currency is heavily restricted and controlled.

Sorry, thinking of those clowns at BHP/B and their 33% drop in proffits , i think yuan lost 13% against the green back last wed /Thurs, you're right about control, they will never loose that, if they do ,they have lost control over the only power they have over the people , they have virtually lost everything else due to Facebook, twitter, social media etc , they have big population internal problems , in a nut shell the ministry of information is laughed at

you thought wrong the maximum fluctuation of Yuan vs Dollar last week was 0.11%, the week ended by Yuan losing 0.06% vs Dollar. it took 5 years (since 2007) for the Yuan to gain ~15% vs Dollar.

here's last weeks chart:

[Naam]

hmmm... 35 replies, 15 of them stating completely wrong facts plus assumptions out of thin air. not exactly an impressing result i'd say.

[rgs2001uk]

The real problem here is that the US has spent decades bullying other countries, but now they have picked on someone that they are unable to bully, and they don't like it. USA have finally met their match.

Love it when these Yank politicians rant on about the Yuan, yet fail to mention QE.

Wonder what they would do if the Chinese stopped buying American debt.

All the USA does these days is issue IOUs, one day people will stop buying them, then what?

you have a valid point but some countries with a huge trading surplus have no other choice than investing the dollar lion share by buying IOUs.

Oh I dont know about choices Herr Doctor, some countries have woken up to the fact, its cheaper to buy a country than invade to try and win "hearts and minds", "shock and awe" dont work much either.

Lets take Burma for instance, I refuse to believe that right now there isnt a map on some generals wall, colour coded showing the breakdown of the country.

Colour A for the Army, mountain resorts, colour B for the Navy costal resorts, colour C for the Air Force golf courses, colour red for the Chinese owned parts of the country.

Coca Cola, Starbucks and the likes must be left shaking their heads wondering why they havent as yet been allocated their colour code.

What was oil a barrel at the time of GW1, about $35 per barrel, instead of sending poor grunts from Oklahoma to die in the desert, Uncle Sam could have done worse than broker a deal with Saddam to buy oil at $50 per barrel.

Still to this day I dont know why Saddam didnt roll on into Riyadh, but thats a topic for another thread.

How much has the war in Afgahanistan to keep a corrupt drug lord in power cost the American tax payer?

Never mind, tell the Chinese to put it on the bill

[bbradsby]

Gotta love these Straw Man, 'Experts say..." BS Threads to get the piling-on the Yanks started.

Not sure there will, for better or worse for the US Treasury, be ONE reserve currency for global trade in the mid-term - that is to me five to ten years. But the linked http://www.xe.com/currencycharts/?from=USD&to=CNY&view=10Y USD/CNY currency cross charted across ten years is instructive. Note the two pegged yuan periods, and note the USD bounce this year due to China's weakening condition and the Euro imploding. If China falls into a real recession with an exploding population, can Beijing pull enough levers to maintain civil society, much less their own hides? For now... and for a while, the world comes back to the US Dollar for safety and security.

Edited August 27, 2012 by bbradsby

[bbradsby]

[bbradsby]

US Debt / President cross chart.

Republican presidents have buried the US in debt from Reagan onwards with supply-side/voodoo economics [cut taxes, increase spending] and then the twin Bush debacles [cut taxes, increase spending and throw multi-trillion dollar war parties]. Roosevelt and Obama have rightly spent their way out of economic depressions. Imagine the pain, suffering & worse if they hadn't.

Edited August 27, 2012 by bbradsby

[bbradsby]

why is it such a pain to get an attachment to load on TV?

[BigRick]

There is an easy way out for the US and debt stop protecting resources for asshat nations. One only wonders if it would have been better to just deal with Germany in WW2 instead of a bunch of ungrateful cry baby European nations. Hey Europe go protect the Middle East since we only get 5% of our oil there. Its funny seeing all the Euros bashing America but as a "Union" you can't even solve regional problems without the US. Great job in Libya,Syria,Bosnia,Kosovo,Rawanda <Big golf clap> I guess that the US protected European shores from all the refugees. We can also add Asia into that mix let China gobble them all up who cares we get along with China. We don't need to protect South Korea, Taiwan or Japan anymore. if America became an isolationist country using our own technology and resources I am pretty sure we would be OK It is all about the GDP you may notice the United States has a GDP of 15 Trillion dollars England 2 Trillion France 2.7 Germany 3.5 Trillion China 7.3 Trillion what does it equal? &lt;deleted&gt; if your country can't match our GDP because it means you are being a "Crybaby pee pants". If you hate America so much and you want China to succeed please stop using the Internet Facebook Microsoft and Apple products. Start paying more into the IMF, Don't drink CocaCola or Pepsi and please whatever you do don't buy our bond/Treasury notes we would not want you to have such an aweful safe haven. Why does China own so much US debt? Because unlike Europe we are a solid long tern investment that always pays. We also have this big ass stick called the US navy I will consider China a theat when they own more than one coverted hotel Casino aircraft carrier. America needs to wash its hands of Europe. I see all this griping about debt but if I recall European banks benefited greatly from the Federal policies enacted at the time. <Note my spelling and grammar are off its 3am in Thailand>

[DrTuner]

I just needed to read the title. No, as long as the US holds it's position as the only remaining super power, it won't. And the US does spend a large sum on keeping it's military competitive each year, so . . perhaps in the next century.

[yoshiwara]

It's funny that the US complains about this, but they seem to love many European countries fixing their currencies against the Euro.

which European currencies are fixed against the €UR... pray tell?

De facto? right now? Swiss Franc. Pay up.

[yoshiwara]

Likelihood of the yuan replacing the $US? About 10% maybe. Higher of course with the usual suspects setting off on their anti-US rants.

[Naam]

&lt;deleted&gt; if your country can't match our GDP because it means you are being a "Crybaby pee pants

GDP figures carry the value of a lukewarm fart during a hurricane but obviously very useful to bs ignorants.

a country can neither service nor redeem its debt with fiction. for that revenue is required! the present revenue for U.S. debt service is a mere 14%; 84% of debt is serviced by issuing new debt.

[Naam]

It's funny that the US complains about this, but they seem to love many European countries fixing their currencies against the Euro.

which European currencies are fixed against the €UR... pray tell?

De facto? right now? Swiss Franc. Pay up.

what part of

...many European countries fixing their currencies...

is it that need an explanation?

[yoshiwara]

what part of

...many European countries fixing their currencies...

is it that need an explanation?

except that I answered your question "which European currencies are fixed against the €UR... pray tell?"

Come on, cough up!

[Naam]

The real problem here is that the US has spent decades bullying other countries, but now they have picked on someone that they are unable to bully, and they don't like it. USA have finally met their match.

Love it when these Yank politicians rant on about the Yuan, yet fail to mention QE.

Wonder what they would do if the Chinese stopped buying American debt.

All the USA does these days is issue IOUs, one day people will stop buying them, then what?

you have a valid point but some countries with a huge trading surplus have no other choice than investing the dollar lion share by buying IOUs.

Oh I dont know about choices Herr Doctor, some countries have woken up to the fact, its cheaper to buy a country than invade to try and win "hearts and minds", "shock and awe" dont work much either.

Lets take Burma for instance, I refuse to believe that right now there isnt a map on some generals wall, colour coded showing the breakdown of the country.

Colour A for the Army, mountain resorts, colour B for the Navy costal resorts, colour C for the Air Force golf courses, colour red for the Chinese owned parts of the country.

Coca Cola, Starbucks and the likes must be left shaking their heads wondering why they havent as yet been allocated their colour code.

What was oil a barrel at the time of GW1, about $35 per barrel, instead of sending poor grunts from Oklahoma to die in the desert, Uncle Sam could have done worse than broker a deal with Saddam to buy oil at $50 per barrel.

Still to this day I dont know why Saddam didnt roll on into Riyadh, but thats a topic for another thread.

How much has the war in Afgahanistan to keep a corrupt drug lord in power cost the American tax payer?

Never mind, tell the Chinese to put it on the bill

basically i agree with you but i fail to see the connection of "China buying or not buying U.S. debt". the positive trade balance China/U.S. would not be not a penny less without the additional debt caused by the two Iraq wars and Afghanistan.

[Naam]

what part of

...many European countries fixing their currencies...

is it that need an explanation?

except that I answered your question "which European currencies are fixed against the €UR... pray tell?"

Come on, cough up!

last time i checked the expressions "many" and "currencies" indicated plurals

[yoshiwara]

Davejones is right ....many of those from the west that rant about china have never been in te country itself

I was there when it first started out in the 90s and the infrastructure they have built in the last 15 years amazes even the cynics

They are not perfect and they know it ...it's their confucius values that is asking for tolerance as the west keeps beating them up in the press

As for brutality and human rights issues only when your own country is perfect will that give u a right to judge theirs ...

and we know there is none out there as long as we are honest ...lots of brutality and human rights issues worldwide western or eastern

...don't try to explain to a Asian why he always singled out for secondary inspection by these dumb TSAs ...that's already an insult to human rights to be racially marked !

A pretty poor attempt at a whitewash.

[yoshiwara]

what part of

...many European countries fixing their currencies...

is it that need an explanation?

except that I answered your question "which European currencies are fixed against the €UR... pray tell?"

Come on, cough up!

last time i checked the expressions "many" and "currencies" indicated plurals

I was answering the question any. I think you had none in your count sheet. But do split hairs if it makes you happy.

[Naam]

I was answering the question any. I think you had none in your count sheet. But do split hairs if it makes you happy.

there's no "any" in any question, i.e. you couldn't have answered to it. now go and bother your parrot or whatever pet you keep.

[yoshiwara]

I was answering the question any. I think you had none in your count sheet. But do split hairs if it makes you happy.

there's no "any" in any question, i.e. you couldn't have answered to it. now go and bother your parrot or whatever pet you keep.

I have a haamster which constantly spins on its wheel.

[chainarong]

And so say all of us , bullocks, they should do some numbers on China , they'd find she is not running in top condition,the star is starting to fade and has been for the past 2 years, china has a very long way to go Politically, domestically and in a number of important area's is about 25 years behind the USA, as I said bullocks , free speech is allowed on this web site, its doubtful i could say this in China.

Free speech s not allowed on this website - for one thing here is a certain newspaper that we are banned from mentioning. Is that what you mean by free speech? Have a read of "The End of Cheap China: Economic and Cultural Trends that will Disrupt the World", as it will give you a real insight into China, and not just the crap you read in the Western press. Yes, if course China is way behind the US, and it will take a long time to catch up. But many, including you, don't realise what is about to happen, and are underestimating China. It is vastly changed in recent years, but the anti-China rhetoric is based on previous years. In any case, the USA both economically and politically is a basket case.

I know its vastly changed, I worked that area 2010/11, what's more the western Press as far as I am concerned apply appeasement to China, never a bad word, the feel good press, China is this , china's is that, all good news, same as the business man, booms up China as the god of commerce, money that's the call, why not, it's in their interests, iron ore is piling up on their wharfs, since 2011, price has gone below $100 a ton, the mining boom in Aust has finished, factories in the Mekong delta region are in a shambles billionaires and Millionaires are in hiding unable to meet repayments, no orders from Europe or Nth America , wages are going up, GE has relocated half its business back to US , others, are and have relocated to this region area, Free speech is generally that, free , interpretations differ, any defamatory or libelous out bursts, as to be expected , might have been meet with a letter from the companies law firm, I don't know , but it's a wounder the present government hasn't put a D notice on the site, maybe they support democracy.

[yoshiwara]

Pretty laughable. When are they going to let their currency float on the open market like everyone else?

It's funny that the US complains about this, but they seem to love many European countries fixing their currencies against the Euro. I think China will allow their currency to float more freely in the years to come, as they have already started doing. But they will do it at a time that suits them, not at a time that suits the US. Many US politicians seem to hate China, so why should China do what the US wants.

The real problem here is that the US has spent decades bullying other countries, but now they have picked on someone that they are unable to bully, and they don't like it. USA have finally met their match.

One problem is this. The USSR Stalinist led system collapsed. Mainland China is also Stalinist led. The political system is still the old unstable one. Bullying? Plenty of that to their own people. Just talk about the shutting up of parents protesting about their children buried underneath collapsing schools in the recent earthquake is one example. The political system rests upon an opening up of economic links with the west. The yuan is not convertible. It sits on US Treasuries, so I laugh when some say the US is finished. If it was it would bring down the PRC. Bullying others? Vietnam, PI, Japan, S.Korea all under China pressure. Careful what you wish for.

[LawrenceChee]

If you talk to the Chinese ...they would tell you at a basic level family success of most important ...if their kids are more successful than then they have done their part as parents giving the kids the beat prep

Most Chinese chuckle at the thoughts the western press is painting on them ...world domination ...be No 1 etc ...bully Uncle Sam are not on the top of their list

Their country is vast enough and underdeveloped in some inner areas that they know they have work cut out for them

The press manipulates what you see...personally I have been there during the worse of the Indonesian riots a few years ago ...right outside the JW Marriott in Jakarta the worse "symbol" of western evil and the protests were 99% peaceful ...standing at the hotel lobby with the guards closing the gates ...

I could see the famous western press (withholding names since they enjoy suing) concentrating on 1% of the crazy crown who are ranting abd broadcasting the "chaos" in the city...the expats and I in the lobby were having a good laugh as we watch the live broadcast in the hotel lobby TV as that is what the world see and think the capital city is under siege

What they didn't show was the crowds thinning out after the turn at the hotel and heading for the noodle shops

So I ask all on TV ...take the net holiday make it a holiday plan to visit China speak to the locals at the tea houses when you ate there and return with a fresh perspective about China

..it's in the Chinese DNA to make money ...not make world domination ...they are simply not interested.

The press drums it up for the elections. The Chinese merely chuckle.

[12DrinkMore]

i'd never trust a Chinaman, save face , big problem, Asian culture thing.

That puts 'em in the same basket as bankers, politicians, the military, the CIA, economists and statisticians.