<<citizen>>? well, ok, i know what you meant :0)
hk buys us t-bills because hkd is pegged to usd
and as usd becomes worth-less, so goes hkd, and so hk becomes 'more competitive' vis a vis its neighbors but not really, however, hk property does then get more 'affordable' in a real sense to offshore buyers and onshore folks who saved in non-hkd/usd
china buys 5-years and under t-bills
japan buys 5-years and over, or so i understand
but the buying in both cases are buy central banks, which to me, simply means they printed up the local currency to buy the usd, and stuffed the usd back to usa as t-bill fodder, and the society used the rmb/yen to invest locally
china inc has also been buying shares, bit by bit, like rio tinto, bp, bhp, etc etc and terms the act as 'deflection of usd'
interesting thing happened today, that the hk monetary authority (de facto cb) warned that rmb appreciation is not a one way street, which to me means that wang3cups in hk has been moving quite a bit of hkd into rmb and the authorities are taking note
the trouble with the rmb is of course that it is easy to get into to but not at all easy to get out of, and whatever one moves across the border, better to prepare for a long stay, just in case
the trouble with recognition is that it comes suddenly even as it develops by and by |
