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Thread: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    There is however the Hong Kong Dollar which primarily is used in of course Hong Kong
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Lord Tammerlain View Post
    Ludahai is quite correct

    The yuan is the common western name for the Renminbi, but they are one in the same
    A little more detail -- as I was in a bit of a rush first thing this morning before my morning swim...

    Renminbi 人民幣 (literally: people's money) is the formal name of the currency in China. Yuan 元 is commonly used in spoken and written Chinese just as Kuai 塊 is used in spoken Chinese. In Taiwan, we use the New Taiwan Dollar (Xin Taibi) 新台幣, but also use the terms yuan and kuai just as interchangebly as is done in China. The Chinese territories of Hong Kong uses the Hong Kong dollar 港幣 (Gangbi) and Macau uses the Macanese Pataca 澳門幣 (Aomenbi). Not sure what spoken terms as I am not familiar with Cantonese or Macanese.
    Last edited by ludahai; 08-15-11 at 09:20 PM.
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by ludahai View Post
    A little more detail -- as I was in a bit of a rush first thing this morning before my morning swim...

    Renminbi 人民幣 (literally: people's money) is the formal name of the currency in China. Yuan 元 is commonly used in spoken and written Chinese just as Kuai 塊 is used in spoken Chinese. In Taiwan, we use the New Taiwan Dollar (Xin Taibi) 新台幣, but also use the terms yuan and kuai just as interchangebly as is done in China. The Chinese territories of Hong Kong uses the Hong Kong dollar 港幣 (Gangbi) and Macau uses the Macanese Pataca 澳門幣 (Aomenbi). Not sure what spoken terms as I am not familiar with Cantonese or Macanese.
    I do recall seeing the Yuan 元 being used for the pricing of most goods in China
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Lord Tammerlain View Post
    I do recall seeing the Yuan 元 being used for the pricing of most goods in China
    True... Here, you sometimes see prices written with the character for 元, but usually just with the number indicating the price. It is often used in spoken Mandarin (or Taiwanese) in giving the total price of what you are buying in supermarkets, open-air markets, and other locations...

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by ludahai View Post
    True... Here, you sometimes see prices written with the character for 元, but usually just with the number indicating the price. It is often used in spoken Mandarin (or Taiwanese) in giving the total price of what you are buying in supermarkets, open-air markets, and other locations...

    Dave Fagan has no idea what he is talking about.
    You are correct. I was wrong on this. I meant to address the issue that China came into world trade in a controlled fashion to prevent foreign elements from being able to manipulate Chinese finances. In this case you have to relate to the sheer volume of USDollars in the world and the ability of a Mega-economy to manipulate a mini-economy by huge currency moves. China controls the float of its currency, not outside manipulators and that has kept outside interests, think foreign banks, from getting control of its economy.

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by The Giant Noodle View Post
    The good ol days? When people were responsible for their kids? When our society was not politically correct and we didnt BS each other with lies? When we didnt tolerate Illegal aliens and didnt give them tax money? When we still had a manufacturing base? When companies actually cared more for their employees than their god damn stock price? I think the Chinese are mainly correct. I also feel the American people are very similar to Rome in its last years. Greedy, fat, lazy, without ethics and morals. This ship is sinking. The men and women that died for this country in WWII are crying somewhere.
    Of course had a lefty said anything like this, they'd be branded Anti American. Yawn.

    Screw the Chinese.

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by DaveFagan View Post
    You are correct. I was wrong on this. I meant to address the issue that China came into world trade in a controlled fashion to prevent foreign elements from being able to manipulate Chinese finances. In this case you have to relate to the sheer volume of USDollars in the world and the ability of a Mega-economy to manipulate a mini-economy by huge currency moves. China controls the float of its currency, not outside manipulators and that has kept outside interests, think foreign banks, from getting control of its economy.
    But the controlled nature of the Chinese currency then allowed it to become seriously undervalued, making their exports cheaper on the world market -- which could be considered an illegal state subsidy under WTO rules...
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    A bit hypocritical- or rather - Gloating.

    China, through Unfair trade policies such as pegging their currency artificially low, wholesale Theft of Intellectual property, and industrial espionage on a level never seen, indeed has lots to Mock us about.

    We are a Stupid and corrupt country who elect leaders - the same.
    THAT is why they have won and are continuing to win their WAR on America.
    And make no mistake- it is a war.
    Last edited by mbig; 08-17-11 at 11:47 PM.
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Agreed. They are operating from the USA playbook of the last 50 years. What's good for the goose, etc. eh?

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by mbig View Post
    A bit hypocritical- or rather - Gloating.

    China, through Unfair trade policies such as pegging their currency artificially low, wholesale Theft of Intellectual property, and industrial espionage on a level never seen, indeed has lots to Mock us about.

    We are a Stupid and corrupt country who elect leaders - the same.
    THAT is why they have won and are continuing to win their WAR on America.
    And make no mistake- it is a war.
    Plenty of countries have pegged currencies in the last 50 years. From Taiwan, South Korea and Argentina to name a few. Pegging your currency at a low level does not effect long term economic advantages. It can provide a short term boost if one devalues the currency, but it will not effect long term economics (2 years +) China by having a low currency sees higher rates of inflation, in the cost of goods, wages and services. As such the increase in wages that are paid within China, offset the low currency.
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

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