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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3407)	7/24/2004 1:46:43 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Maybe one day China could get away with printing money at their own will too (just like what the US has been doing for the last decade and continue to practice now)<g>--"Now China has another, unexpected source of wealth. Last November, a Chinese state-sponsored energy newsletter reported that China's currency, the RMB (a.k.a. yuan) is being increasingly accepted as a hard currency by Singapore, Vietnam, Russia and Malaysia. More recently, economist Jing Li, who teaches at Queen Mary College of the University of London, wrote that "the massive circulation of the RMB in China's neighboring economies is the beginning of RMB internationalization." For many years, currency observers have noted that the Japanese yen quietly slipped into place as the second-most powerful currency in the world, just behind the dollar. But now they see the RMB as edging out the yen. Ironically the RMB has already acquired the qualities of the dollar and the yen without trading on currency markets. Those three qualities are a stable means of exchange, a source of capital and a "safe haven" for bonds. " news.pacificnews.org (I will add even in Taiwan, now some restaurants start to take RMB, LOL)