dave32 Posted November 13, 2010 Report Share Posted November 13, 2010 Interesting. Probably inevitable. Link --- "The G20 did not make any progress on the matter and it is difficult to get the United States and China to express their clear stances on the issue. But what we can do is try to cooperate in the region and reduce the impact from currency volatility," Mr Abhisit said before leaving for the Asian Games in China and an Asia-Pacific Economic Cooperation (Apec) leaders' meeting in Yokohama, Japan, this weekend. G20 leaders drew a veil over their economic policy disputes in South Korea yesterday. They agreed to tackle tensions that have raised the spectre of a currency war and trade protectionism, but they fell short of already low expectations. Only vague "indicative guidelines" were set for measuring imbalances between their multi-speed economies. Leaders called a timeout to let tempers cool and left details to be discussed in the first half of next year. Mr Abhisit echoed a call made by the Asian Development Bank (ADB) to use China's yuan as a major trading currency in the region to reduce the impact of currency volatility, especially linked to the weakening of the US dollar. He said he was the one who proposed the idea to the ADB. ------ Link to comment Share on other sites More sharing options...
Flashermac Posted November 13, 2010 Report Share Posted November 13, 2010 How about the Lao kip? That has held up pretty steadily. Link to comment Share on other sites More sharing options...
Old Hippie Posted November 13, 2010 Report Share Posted November 13, 2010 Ok, here is yet another thing I fail to understand...as I have it, the Yuan is pegged to the USD? so the lower the dollar sinks, so would the Yuan? if so, why would anyone want it over any other sinking currency? Link to comment Share on other sites More sharing options...
chuckwoww Posted November 13, 2010 Report Share Posted November 13, 2010 Ahbisit, and others, are just hedging their bets OH. They know who's winning the currency war and the Chinese may float the yuan eventually especially if the US attempts to devalue the dollar or put tariffs on Chinese goods. China's Dagong Global Credit Rating just downgraded the sovereign debt rating of the United States to A-plus from AA. Some say they also tested a submarine based missile off the coast of California just before the G20 summit. Nonsense of course. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted November 13, 2010 Report Share Posted November 13, 2010 Maybe Thailand is realizing the USA economy is in big trouble....... Link to comment Share on other sites More sharing options...
shygye Posted November 13, 2010 Report Share Posted November 13, 2010 There isn't enough yuan floating around to do this. Plus China would not want this to happen since it would increase the value of the yuan. This pretty much shows the PM is clueless. Link to comment Share on other sites More sharing options...
chuckwoww Posted November 13, 2010 Report Share Posted November 13, 2010 Right on all counts. He likes to flatter his Chinese friends occasionally though. Link to comment Share on other sites More sharing options...
dave32 Posted November 14, 2010 Author Report Share Posted November 14, 2010 There isn't enough yuan floating around to do this. Plus China would not want this to happen since it would increase the value of the yuan. This pretty much shows the PM is clueless. Are you sure? I imagine the powers that be employ several tricks to tweak the value of their currency for various reasons. Including us. We've just haven't been successful of late. Whatever Ahbisit is, stupid/clueless doesn't seem an apt description. Not sure what the Chinese would want - I'm not that versed in Economics or the Chinese agenda - but you're probably right about that. For now. Link to comment Share on other sites More sharing options...
shygye Posted November 14, 2010 Report Share Posted November 14, 2010 The USA has been very successful in weakening the USD. China has currency controls to keep the yuan value low. This contributes in keeping the price advantage Chinese exports enjoy. Link to comment Share on other sites More sharing options...
cavanami Posted November 14, 2010 Report Share Posted November 14, 2010 China would be extremely happy to have their yuan the world currency. Why? Pride! This would be a huge accomplishment and China would gloat over it for 1000 years!! Good on the Chinese, they worked for it, no one gave them much. China has had an agenda that looks 100 years ahead and they slowly progress on that agenda. The USA farked themselves with the big corps just looking at three months at a time!!! Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.