Discussion » Nonsense » Reevaluating the RMB

  • Jimi
    Jimi wrote:
    http://english.sina.com/business/p/2010/0318/309693.html


    I wonder how many times this type of article has been written.

    if this were to happen for real. too many companies will lose it all.
    how do you say suicide in chinese...Pinyin please
  • Pete DeMola
    Pete DeMola wrote:
    zisha
  • Da Fan
    Da Fan wrote:

    zi4 sha1

  • Pavoir Sponse
    Pavoir Sponse wrote:
    it's perfectly logical that a US president would want RMB to appreciate...

    How could he not?
  • 叮噹叔叔 (令狐叮噹)
    ...

    Carlos is correct ... it is logical, and of course to the advantage of US ...

    Personally, I would like to see RMB up a notch or two ... and I think we can all expect that, but not in the immediate future ...

  • TonyDice
    TonyDice wrote:
    What US companies? You mean like Google? One of the many reasons there isn't more foreign investmanet here, aside from the Wild West nature of the place and government bias in favout of domestic rivals, is the manipulkation of the yuan.

    Both sides have an understandable viewpoint on this and one thing that's unquestioned is that Obama would want this. Frankly, the thought of all that cheap labour disappearing is alarming...
  • Minger
    Minger wrote:
    Does the US really want China to raise the value of the yuan? Obviously it would be good for Americans who don't want manufacturing jobs exported, and for companies that want access to the huge export market... ...But it would be a huge setback to the rich American companies and people that make hundreds of billions of dollars by doing all their manufacturing, labor sourcing, and procurement here for products that they're selling to the American consumer market. It's those companies that control the political situation in the states (let's face it, the US is a plutocracy). China's yuan appreciating would be good for most Americans, but not good for the ones making the decisions. I think that America's official stance is just posturing, so it can put the blame for the economic situation on someone else.
  • 随便叫兽
    随便叫兽 wrote:
    Would allowing the yuan to appreciate really fix the trade imbalance in any meaningful way? Does America produce anything that Chinese people actually want?

    Besides sports franchises, shitty food, and intellectual property (which no one pays for).

    American consumers will complain about goods becoming more expensive, because a lot of common household items are produced here. Wal-Mart shoppers would go apeshit. We'll just have more survivalist rednecks camping out near the borders of the national parks, tweaked out on bathtub methamphetamine, and waiting for a message Ron Paul's blimp telling them that the gubmint has finally gone too far: by Obama's executive order #666, NASCAR must convert to hybrid fuel vehicles.

    Anyway, the manufacturing sector in America isn't going to bounce back in response to a revaluation of Chinese currency. The labor unions have been so thoroughly fucked in their asses that they are too busy worrying about preserving pensions and existing buy-out contracts to consider negotiating for more workers.

    If it ain't gonna fix unemployment, then fuck it. This shit is for bankers.

    On the other hand, the RMB is paying off my student loan debt, so of course I want to see it appreciate against the dollar. I'd go home to a Michigan that looks like Mad Max with more humidity, but at least I wouldn't be hunted down and killed by BMX riding mercenary thugs sent by the credit bureaus.
  • Da Fan
    Da Fan wrote:
    America produce many things that China want, mainly high tech stuffs, but of coz, US wont sell them to China. And US got great oil and coal reserve, China want them for sure, but will US resume mining? Day dreaming...but US need to "export" sth to fill trade deficit, paper dollar it is~
  • 叮噹叔叔 (令狐叮噹)
    ...

    Hahahaha ... I am curious ... what is made in USA these days?

    Personally, I still hope to see the RMB appreciating a notch or two, both against the US dollars (hence HK dollars too, hahaha) and Aussie dollars (wa-hahaha, that was my wife laughing) ... but with the amount of US bond etc that the government owned, and also the investments of the local banks, even if a notch could mean lossing billion for the Chinese ... so I think, though the RMB might rise against other currencies, but it is likely to maintain its current value against USD ...

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