What is China thinking?????

[Mick]

Every time you buy a foreign good or service, "our" money flows out of the country without regulation?  Any problem with that?  Should the government restrict what we can buy and whom we can buy it from?

 

In any case, the ONLY reason I am sending money out is because the GOVERNMENT has been sitting on their hands for A YEAR!  I would gladly keep all the money right here as soon as they issue a visa.

An excellent point!

[skibum]

A. Naturally our currency flows out if we buy foreign goods. But it is easy to follow the money, unlike individuals sending money.

 

B. A family of 3 would pay about $900. in income taxes on earnings of $26,000. Seems like a good investment to me. I am sure you can find people in other countries who would like to pay that to get the benefits we get.

[Guest R2D2]

Well, I think $1000 a month should be ample.  I am glad our govt regulates the outflow of our money.  I am uneasy that so much of our money is in the hands of foriegn citizens and countries.  It is easy for Saudi Arabia to manipulate our money if they desire.

I do not see any totaltarian scheme here, just good sense.  We all know that millions were being sent to help terrorists.  

Now, I just hope the same restrictions apply to all countries.

What are we left with when we lose our freedom in order to preserve it.

Good point ChinaDave. If you are a millionaire, you can transfer cash anywhere, instantly. To bad we are not all ex-presidents of Haliburton!

[Guest R2D2]

A.  Naturally our currency flows out if we buy foreign goods. But it is easy to follow the money, unlike individuals sending money.

 

B.  A  family of 3 would pay about $900. in income taxes on earnings of $26,000.  Seems like a good investment to me.  I am sure you can find people in other countries who would like to pay that to get the benefits we get.

You seem to read the news that proves your already preexisting ideas but the facts do not justify your premises. If you wish to live under a stalinist regime, don't expect everyone to embrace your ideas. I fought for freedom. I did not fight for giving up freedom so that I could hide in a hole in Nebraska at the drop of a hat in the name of security. What security? I am not secure when I walk across the street. Rudy in NY did not hide in a hole either, and he is a good Republican.

[tonyuab]

is it possible just send a personal check over instead of using western union? i remember i send a $8,000 check to my wife a year ago and didn't have any problems.

[owenkrout]

is it possible just send a personal check over instead of using western union?  i remember i send a $8,000 check to my wife a year ago and didn't have any problems.

I doubt that it would work in most of China. Here in Shenyang it was a major pain just to cash a local check that a school wrote to me. Several tellers actually asked what it was until I finally got a manager to come over. He insisted that checks could only be cashed at the specific branch that they were written on.

 

As for wiring money directly from one bank to another, it is expensive as the bank here charges a fee to the recipient also and a couple of years ago it took from two to four weeks for the money to show up in the account in China. Wiring the money from the Bank of China in New York to the Bank of China in Panjin, Liaoning was the method that took the longest and they questioned my wife closely about why she was recieving money from America.

[Stats]

Last night I tried to send some money by Western Union.  It was rejected because, according to Western Union, China implemented a new policy limiting daily transfers to $500 with a calendar month maximum of $1000.  These are limits on the amount of money that can be sent TO China!

 

I have no idea why they would impose such limits on inflows.

I have the same issue right now. I m trying to send $1,000 USD via Western Union (WU). WU says "no can do" because China is limiting transfers. Actually that does not make any sense to me. I would think China would want all the US dollars they could get there hands on.

 

I guess I need to explore the ATM option. I am going to ask my bank is a non-signer can receive an ATM card on my account.

[tparrent]

I tried to get an additional card also but the bank said no way

 

So instead I opened another account at a different bank and will simply send the card for that account to China.

[Stats]

I tried to get an additional card also but the bank said no way

 

So instead I opened another account at a different bank and will simply send the card for that account to China.

I just got of the phone with Western Union Customer Service. You can send $1,000 in a 30 day period, however it has to be 2 seperate transfers because of China's $500 limit.

 

So, I am wondering: Western Union has a $1,000 limit (for new accounts) and maybe China has a $500 limit? That might not welcome news for the "Bush bashers" in this thread, but that is what I think is going on.

 

On that note, I am a frequent reader and seldom poster. I have become somewhat dismayed at the increase in posts with "in your face" politcal statements. That is not why we are here. I would encourage everyone to keep politics out of this forum as much as possible. I am a CPA and a MBA and, to no surpise, a ardent conservative. I have seen recent comments that are absurd and obviously vehement political statments based on feeling rather than knowledge or expertise in financial matters.

 

However I have kept my mouth shut in the interest of why we all here, so to speak. My 2 cents. Flame away.

[tonado]

$1000 USD a month is lot of money to send to China. If you send more than that, then your loveone will live like a queen.

[Guest R2D2]

I tried to get an additional card also but the bank said no way

 

So instead I opened another account at a different bank and will simply send the card for that account to China.

I just got of the phone with Western Union Customer Service. You can send $1,000 in a 30 day period, however it has to be 2 seperate transfers because of China's $500 limit.

 

So, I am wondering: Western Union has a $1,000 limit (for new accounts) and maybe China has a $500 limit? That might not welcome news for the "Bush bashers" in this thread, but that is what I think is going on.

 

On that note, I am a frequent reader and seldom poster. I have become somewhat dismayed at the increase in posts with "in your face" politcal statements. That is not why we are here. I would encourage everyone to keep politics out of this forum as much as possible. I am a CPA and a MBA and, to no surpise, a ardent conservative. I have seen recent comments that are absurd and obviously vehement political statments based on feeling rather than knowledge or expertise in financial matters.

 

However I have kept my mouth shut in the interest of why we all here, so to speak. My 2 cents. Flame away.

Not so!! I sent $800 by Western Union last month for a new computer for my family there.

[Stats]

$1000 USD a  month is lot of money to send to China. If you send more than that, then your loveone will live like a queen.   

The problem is that she has not received any salary for the past 2 months due to SARS related slowdown in business . Also, she owes our interpreter about 3,500 RMB.

 

Naturally she withheld this information until the "critical stage".

[chinadave2001]

The longer I go into this process, the more cynical I become about American government. Having experienced the government's ability to "manage" things firsthand, I now doubt their ability to anything at all and suspect the motives of everything. I will no longer teach US government in school as I am simply too jaded. When people in this forum flame one party or the other, I always look at it as an expression of fustration in a situation where we are more or less powerless to make a difference. Perhaps one of the best uses of this forum is to allow people to blow off some steam in a way that is benign, won't get them put in jail and get some sympathy from fellow travelers. Lastly, as I have stated before, I don't think either side - left or right - is particularly concerned about us right now.

[owenkrout]

$1000 USD a  month is lot of money to send to China.   If you send more than that, then your loveone will live like a queen.    

The problem is that she has not received any salary for the past 2 months due to SARS related slowdown in business . Also, she owes our interpreter about 3,500 RMB.

 

Naturally she withheld this information until the "critical stage".

Sounds like your interpreter may be the one who is ripping you off. 100 RMB an hour is big money over here. You could pay for your fiancee to go to an English training center for that kind of money.

[Mick]

I tried to get an additional card also but the bank said no way

 

So instead I opened another account at a different bank and will simply send the card for that account to China.

I just got of the phone with Western Union Customer Service. You can send $1,000 in a 30 day period, however it has to be 2 seperate transfers because of China's $500 limit.

 

So, I am wondering: Western Union has a $1,000 limit (for new accounts) and maybe China has a $500 limit? That might not welcome news for the "Bush bashers" in this thread, but that is what I think is going on.

 

On that note, I am a frequent reader and seldom poster. I have become somewhat dismayed at the increase in posts with "in your face" politcal statements. That is not why we are here. I would encourage everyone to keep politics out of this forum as much as possible. I am a CPA and a MBA and, to no surpise, a ardent conservative. I have seen recent comments that are absurd and obviously vehement political statments based on feeling rather than knowledge or expertise in financial matters.

 

However I have kept my mouth shut in the interest of why we all here, so to speak. My 2 cents. Flame away.

I too have an MBA plus a PH.D. Also, I lean more toward the liberal side of the ledger. Didn't realize being a conservative was a prerequisite of financial expertise. I suspect there are experts on both sides of the spectrum, just differing opinions and different strategies. I, for one, prefer to let the record speak for itself.