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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: Sun Tzu who wrote (5166)7/21/2005 7:41:52 PM
From: RealMuLan  Read Replies (1) of 6370
 
>>I think it is in China's best interest to fix RMB to some form of basket as I described. It will allow the country to have many of the advantages of floating currencies without most of the disadvantages they present to a developing country.<<

Maybe you are right. Although what you may not realize that too many senior level Chinese economists were educated in the west, especially in the US, so they think exactly like the main stream western economists do. What have not or cannot be done in the US, most likely, will NOT be done in China. Now you really see the result of the US spends millions of free-printed $ on those Chinese students' scholarship<g> They did plant plenty of seeds in China now.

>> So not a chance.<<

Maybe RMB will never ever become US$, but at least can become Yen, or Euro. That is good enough for me.

>>BTW, someone once told me he calculated the value of the free money printing press US has to be $500B...seems rather excessive to me, but even half as much of that is way more than most country's GDP.<<

That estimate is Way too conservative.

And even if now RMB is not a reserved currency, China already can print plenty. The Chinese gov. bond is selling like hot cake whether overseas or within China. So just learn from Uncle Sam, let us all print!
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