Interest Rates

[quintets]

Being told how many children I can have - well given the carrying capacity of our world and the number of people, I don't see that as a bad thing either.

I'm already being told how many children I can have. I don't need the government to do it for me.



Jireh

 

[Aceyducey]

I agree completely that China and some of the other asian states will need to become more "westernized" if they are to become economically competitive in the global economy.

hmmm

I don't entirely agree with this perspective.

IMHO it's like saying that women must become more 'maleized' to be successful in the business world.

Western business practices are ascendent only because much of the world's wealth rests in the west. This is changing, and business practices will change with it.

Cheers,

Aceyducey

 

[madmurf]

maleized

hmmm

I don't entirely agree with this perspective.

IMHO it's like saying that women must become more 'maleized' to be successful in the business world.

Western business practices are ascendent only because much of the world's wealth rests in the west. This is changing, and business practices will change with it.

Cheers,

Aceyducey

Aceyducey
maleized? Now that could work.
You may have stumbled on a title for the next new book for women.

 

[quiggles]

Like a lot of things we "know" will happen, nobody has any idea when.

My Q: "Yuan" and "Renmimbi", are the terms interchangable?

Thommo

My understanding is that the Chinese currency is the yuan renminbi. And yes, they are interchangeable.

 

[quintets]

My understanding is that the Chinese currency is the yuan renminbi. And yes, they are interchangeable.

I think there was a currency for foreigners, the Renmin B, and inside the RenminA, but both are denominated in yuan. The back of this China note says "shi yuan", where shi is 10.

 

[quintets]

Like a lot of things we "know" will happen, nobody has any idea when.

My Q: "Yuan" and "Renmimbi", are the terms interchangable?

Thommo

I'm with Thommo. Eventually, it will happen, but I don't know when. The machinations of the Chinese economy are largely a black box to me. Even the GDP growth figures seem to lack enough transparency to really comment on the sustainability.

The acid test of a idea is sustainability. The idea of America has been sustained for over 200 years and they've been outward looking from day one. The idea of China has been around for over 5000 years and they've been inward looking pretty much of the time.

Now the idea of China as an economic powerhouse...hmmm. That's different. Will it be outward looking? And is it sustainable over many generations? Maybe. Maybe not. But I'll bet my generation and my kids generation will be very interested to see what happens in Asia.

my two (almost) unpegged yuan,

Jireh

 

[Andrew_A]

I think there was a currency for foreigners, the Renmin B, and inside the RenminA, but both are denominated in yuan. The back of this China note says "shi yuan", where shi is 10.

Two currencies, interesting.

I was aware there were two stock exchanges, one for locals only.

 

[Aceyducey]

But neither stock market is worth investing in at this time

Cheers,

Aceyducey

 

[GreatPig]

My understanding is that the Chinese currency is the yuan renminbi. And yes, they are interchangeable.

Chinese currency in general is referred to as "renminbi" (the people's money), while "yuan" is a specific unit of that currency (the equivalent of our dollar, although with only about a fifth the value). One tenth of a yuan is a jiao (10c) while a 100th of a yuan is a fen (cent). These days I don't think you'll find anything that's not a multiple of one jiao - at least not in the cities.

To make it more confusing, when speaking prices the words "kuai" and "mao" are used instead of yuan and jiao. So "shi kuai ba mao" is Y10.80. Back when fen were still used, "shi kuai ba mao liu" would be Y10.86 - the word "fen" wasn't normally added to the end.

Regarding the two currencies, a few decades ago they had foreign exchange certificates as well as the local renminbi, but the FECs were dropped back in the late '80s. Only FECs could be changed back to foreign currency, and whenever you spent them, you'd inevitably be given local renminbi as change. The locals liked to collect the FECs as well (although I don't know what they did with them when the currency was dropped).

I've attached a few things from 1982 when I was there: a 10 yuan FEC, the back side of a 5 yuan FEC, a one jiao note, a one fen note (a rarity even back then), a couple of food vouchers, and the coins in use then - one, two, and five fen (all little aluminium discs).

Cheers,
GP