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(Global Geopolitics)   It's likely a good idea now to be ahead of the curve and start putting 'yuan' and 'renimbi' in your vocabulary... Because? Because the rest of the world is   (glblgeopolitics.wordpress.com ) divider line 34
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1113 clicks; posted to Business » on 09 Jul 2014 at 11:15 AM (1 year ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-07-09 09:09:54 AM  
Once the Chinese government allows its currency to freely float, then we'll talk.  Until then you are putting a lot of control in a country that doesn't like you much.
 
2014-07-09 09:40:20 AM  
This blog has been telling us the sky is falling for a while now.
 
2014-07-09 10:40:20 AM  
This guy must have ulcers from hell from worrying 24/7 about our demise
 
2014-07-09 11:18:02 AM  
You should try it as well, subbs.
 
2014-07-09 11:21:18 AM  

start putting 'yuan' and 'renimbi' in your vocabulary


That's "renminbi", tardmitter.
 
2014-07-09 11:25:49 AM  
If you've seen yuan, you've seen renminbi.
 
2014-07-09 11:27:40 AM  
img.fark.net
 
2014-07-09 11:31:55 AM  
Eh, fark China. They make all our shiat, get all our money and we ask nothing in return, like letting their citizens vote or not get raped
 
2014-07-09 11:32:54 AM  
Yeah. HOW long have I been hearing this Chinese Supremacy bullsh*t now? 30 years?

Take a look over there. They are building one "Ghost City" after another just to keep their own construction bubble from popping.

China may become a Superpower, but it's not going to be the #1 Superpower.
 
2014-07-09 11:35:21 AM  

TV's Vinnie: Yeah. HOW long have I been hearing this Chinese Supremacy bullsh*t now? 30 years?

Take a look over there. They are building one "Ghost City" after another just to keep their own construction bubble from popping.

China may become a Superpower, but it's not going to be the #1 Superpower.


Geez, the Chinese can even do construction bubbles better than the U.S. can!
 
2014-07-09 11:41:42 AM  

James!: This blog has been telling us the sky is falling for a while now.


Yep. And evidently they are hiring and endless stream of midget transformer hookers to blow the modmins.
 
2014-07-09 11:45:04 AM  
If in 2014 you're just learning what "yuan" means, you're way behind the curve.

What's the big deal anyway? Not that many people settle payments in Canadian dollars, and Canada is doing fine.
 
2014-07-09 11:50:34 AM  

James!: This blog has been telling us the sky is falling for a while now.


I have yet to see an issue they can't misinterpret.
 
2014-07-09 11:56:46 AM  

Arkanaut: If in 2014 you're just learning what "yuan" means, you're way behind the curve.

What's the big deal anyway? Not that many people settle payments in Canadian dollars, and Canada is doing fine.


Most don't know the difference between yuan and remnimbi (not that I know how to spell it), it's like the difference between pounds and sterling (the former is a quantity of the latter).

EvilEgg: Once the Chinese government allows its currency to freely float, then we'll talk.  Until then you are putting a lot of control in a country that doesn't like you much.


Not only that, it's insane to give up the dollar for a currency pegged to the dollar!

AFAIK the big advantage we get from being the world's reserve currency is one we'll never take advantage of: a practically-infinite supply of money the world wants to lend us. But we didn't take advantage of it even when yields were *negative*, because OMG DEBT TRILLION yadda yadda yadda.
 
2014-07-09 12:02:22 PM  
I've got, like, HUNDREDS of RMB in my desk.  That's like, uhh, a three or four DOZEN Euros.

Whoo Hoo?
 
2014-07-09 12:16:13 PM  

Gaseous Anomaly: Most don't know the difference between yuan and remnimbi (not that I know how to spell it), it's like the difference between pounds and sterling (the former is a quantity of the latter).


IMO it's more like "dollar" and "US Dollar". "Renminbi" means roughly "the People's currency", where "yuan" is a more generic term used in Chinese that can be modified to refer to other currency units, such as the Japanese yen or the South Korean won. For non-Chinese-speakers though there is no effective meaning.
 
2014-07-09 12:31:18 PM  

Arkanaut: Gaseous Anomaly: Most don't know the difference between yuan and remnimbi (not that I know how to spell it), it's like the difference between pounds and sterling (the former is a quantity of the latter).

IMO it's more like "dollar" and "US Dollar". "Renminbi" means roughly "the People's currency", where "yuan" is a more generic term used in Chinese that can be modified to refer to other currency units, such as the Japanese yen or the South Korean won. For non-Chinese-speakers though there is no effective meaning.



A yuan is a unit of RMB, just like pounds and sterling. Though in terms of business transactions I've always discussed RMB, as a shorthand, I guess. The currency actually says Yuan on it.
 
2014-07-09 12:43:32 PM  

KWess


The currency actually says Yuan on it.


Most of it does. I have two batches here, one from 1999 and one from 2005.

The 1999 1, 5, and 100 include the word 'yuan' while the 1999 20 and 50 just have the numbers for some reason.

The 2005 5, 10, and 100 include the word yuan as well. (I don't have a 2005 20 or 50.)
 
2014-07-09 12:53:22 PM  
Forget it, Renminbi was like the most annoying character in the whole "Robotech" series.
 
2014-07-09 01:08:46 PM  
One currency or another... or several, is/are always growing against the dollar, meanwhile, people like trading in dollars because it's a stable currency, it's probably not going to blow up, or implode, because it's legal currency in the largest and most diversified economy in the history of the human race... and the organization that issues the notes has never so much as been late on a single payment in over 200 years.

There's a good chance that China will overtake our economy in the near future, they have roughly four times our population... but their government has previously nationalized foreign investments, their history is full of civil wars and they're about to start dealing with the problems of a rapidly declining working age population.

Short term, sure bet on the Yuan, mid term to long term... don't bet against the dollar.
 
2014-07-09 01:35:38 PM  
"Renminbi" has been in my vocabulary since Lethal Weapon 4.
 
2014-07-09 02:20:07 PM  

img.fark.netEnglebert Slaptyback: KWess

The currency actually says Yuan on it.


Most of it does. I have two batches here, one from 1999 and one from 2005.

The 1999 1, 5, and 100 include the word 'yuan' while the 1999 20 and 50 just have the numbers for some reason.

The 2005 5, 10, and 100 include the word yuan as well. (I don't have a 2005 20 or 50.)



I don't have a 50 right now, but they all seem to follow the same format, iirc
 
2014-07-09 02:53:13 PM  
I won't blow off China as being insignificant but people need to not go into full blown paranoia about a China controlled future.

We really need to be concerned with a squirrel controlled future though.  I know they are watching us even now, studying out weaknesses.
 
2014-07-09 02:59:01 PM  

Gergesa: I won't blow off China as being insignificant but people need to not go into full blown paranoia about a China controlled future.

We really need to be concerned with a squirrel controlled future though.  I know they are watching us even now, studying out weaknesses.


They're quite willing to take out the electrical grid via suicide attacks.
 
2014-07-09 03:25:21 PM  
A China controlled future is scary if you assume no changes in China.  That is a poor assumption.  As the Chinese people become more affluent, their expectations will rise and they will demand a more liberal government.  I suppose if the Chinese system was producing more liberty, more safety and more happiness for its citizens than our system does for us then a China controlled future wouldn't be scary in the least.
 
2014-07-09 03:39:23 PM  
Oh, you're serious? I'll laugh even harder...

Time for China to step to the fore front and spend Billions of US dollars on Africa; the UN budget; AIDS research/prevention/cure (and all other diseases); and we'll step back and let them... No problem.
 
2014-07-09 04:00:30 PM  
Yuan. Nothing to see here, move along.
 
2014-07-09 04:21:58 PM  
The reason they are so eager to use RMB is because they want to get rid of them as much as the Chinese are.

Chinese domination is not going to happen for a long time and not without substantial changes to China and the rest of the world. Why not?

No one trusts the Chinese government, not even the Chinese government. And by trust I don't mean people think their government is looking out for them. By lack of trust I mean the general consensus is "not only am I going to assume that literally everything you say is a lie, I'm going to assume that the opposite is true".

No one trusts the Chinese currency either, not even Chinese billionaires. The reason they're buying up as much real estate and other hard assets as they can (inside and outside China) is because they're trying to get rid of their RMB before everyone else realizes how worthless it is. You also see it in the informal economy. If someone in the US is selling their stereo on Craig's List and you offer them a bunch of Euro or RMB at a much more favorable exchange rate (for them) they'd still tell you to piss off and demand dollars. In China, street vendors will offer you at least the bank rate, plus a lower selling price, if you are willing to pay with dollars (especially newer $100 bills). So the reality is that despite all the handwringing China still views the USD as the world's reserve currency.

China has huge internal problems to deal with. Tibet may be neutered but it's still a potential problem, the Uyghurs are a constant irritation, there is a massive property bubble that's only getting worse the more the government tries to prop it up, and half the country is one corruption or environmental scandal away from making the "Occupy Central" movement in Hong Kong look like a letter to the editor. It's hard to project power globally when the bulk of your assets are spent trying to keep your own country from falling apart.

As for the rest of the world, everyone else would have to fark up to an extreme measure in order for people view China as a bastion of stablity and then act on it. So China would not only have to make dramatic changes in a positive direction, it would also require that everyone else make dramatic changes in a negative direction. I never say never, but save some crazy natural disaster I wouldn't bet one RMB on it.
 
2014-07-09 04:29:35 PM  
Sounds like it's time to buy gold again.
 
2014-07-09 05:16:41 PM  
The reason they have so many ghost cities is that they bring all their cheap labor profits to Vancouver and buy up every piece of real estate they can find.

China is why Vancouver is currently the biggest real estate bubble in the world.

Thanks Steven Harper.
 
2014-07-09 06:30:18 PM  
Remnimbi just rolls right off the tongue. Is the "n" silent like in the word "damn"?
 
2014-07-09 11:08:22 PM  

Englebert Slaptyback: KWess

The currency actually says Yuan on it.


Most of it does. I have two batches here, one from 1999 and one from 2005.

The 1999 1, 5, and 100 include the word 'yuan' while the 1999 20 and 50 just have the numbers for some reason.

The 2005 5, 10, and 100 include the word yuan as well. (I don't have a 2005 20 or 50.)



You have counterfeit. So sorry.
 
2014-07-10 05:57:32 AM  

Swampmaster: Time for China to step to the fore front and spend Billions of US dollars on Africa


Um... ya know how the US used to say Africa could have money as long as they taught abstinence and didn't give out condoms?  And then how the US switched to saying Africa could have money as long as they didn't bash gays, or whatever the theme is this week?

Three guesses who's investing in companies and countries all over Africa like it's going out of style, and the first two don't count.

And where the US focuses on disease and sex and governance and attaches strings to everything, China doesn't give a damn if you're a corrupt politician - they want to  do business with your country, and if that means investing billions in transportation and energy infrastructure, so be it.

/American, married to an African, with some RMB at home in the container of money gotten overseas.
 
2014-07-10 11:04:13 AM  

Christian Bale: Englebert Slaptyback: KWess

The currency actually says Yuan on it.


Most of it does. I have two batches here, one from 1999 and one from 2005.

The 1999 1, 5, and 100 include the word 'yuan' while the 1999 20 and 50 just have the numbers for some reason.

The 2005 5, 10, and 100 include the word yuan as well. (I don't have a 2005 20 or 50.)


You have counterfeit. So sorry.


And your Coke...don't bother.
 
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