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Billboard Hails RMB As “The World Currency”

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Taco
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Billboard Hails RMB As “The World Currency”

Post by Taco » March 15th, 2015, 6:07 am

The Chinese do not plan to live in a world dominated by the U.S. dollar for much longer. The Bank of China just opened a new branch a few months ago in the small city I live in here in Cebu.

Billboard Hails RMB As “The World Currency”
https://www.blanchardgold.com/investmen ... -currency/

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“Every time a President leaves the White House after two terms, there is a recession within the next year"

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Yohan
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Re: Billboard Hails RMB As “The World Currency”

Post by Yohan » March 15th, 2015, 12:55 pm

You cannot trust China and its currency. You cannot trust politics in China. They are changing like the wind...

The Chinese currency and its exchange rate are strictly controlled by the Communist government, and laws are changed often suddenly and arbitrarily.

The CNY is not a currency you can take abroad and change it unlimited into other currencies.

Chinese laws - not allowed to own land even for Chinese citizens, not willing to offer citizenship to foreigners, unclear visa regulations, press censorship including internet communication etc. etc. are acceptable for very large international companies in return of cheap labour, but surely not for individual foreign businessmen.

China is OK for visiting as a tourist, have fun - but not much more. Future of China has also to be considered, despite strong regulations to keep the value of its currency down, China is not such a cheap country anymore for production of goods.

China is also facing other problems like gender imbalance, elderly population, pollution because of overpopulation in cities, disputes with almost all neighbouring countries, strong imbalance between rich and poor/urban and rural areas ...

Taco
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Re: Billboard Hails RMB As “The World Currency”

Post by Taco » March 16th, 2015, 4:47 am

The Yuan is now available in 11 currency pairs for forex trading.

China's Yuan Now World's 5th Payment Currency
http://www.dailymail.co.uk/wires/afp/ar ... SWIFT.html
“Every time a President leaves the White House after two terms, there is a recession within the next year"

Wolfeye
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Re: Billboard Hails RMB As “The World Currency”

Post by Wolfeye » March 16th, 2015, 5:32 am

What is the difference between this RMB & yuan? Why is it both words, is what I'm asking?

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droid
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Re: Billboard Hails RMB As “The World Currency”

Post by droid » March 16th, 2015, 5:38 am

Wolfeye wrote:What is the difference between this RMB & yuan? Why is it both words, is what I'm asking?
This drove me nuts for a while.
It's the same money, but Renminbi is the name of the currency, Yuan is how the actual units are called but sometimes the currency is called Yuan too.

"The Renminbi to Dollar Exchange rate"
or
"This just cost me 20 yuan"
or
"The chinese Yuan"

This is wrong:
"This just cost me 20 Renminbi"
1)Too much of one thing defeats the purpose.
2)Everybody is full of it. What's your hypocrisy?

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