RMB vs USD...

[rogerluli]

It seems you're going way out on a limb assuming that prices of real estate in China will continue going to the moon Tony...There have already been pullbacks in the overpriced major cities...How many actual residents can afford the prices in the big cities??? It looks to me like an...

 

 

 

ASSET BUBBLE...

[Claire]

One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%...

 

OUCH!! There goes my retirement plan, Oh well do not mind working until I am 84!!

You can retire at 84!?? Dayum, you must be saving every penny. My retirement plan is to die at work. Then! Maybe then, she'll realize that I don't have money stashed away.

 

 

LOL!!

[Sebastian]

We are Charles... But that's only "new" money...I can't convert retirement account $$$ to RMB...and pensions and SS WILL NOT be paid in RMB...

 

Can you convert your retirement account and pension to EU or UKP ?

 

I'd take a different approach, really -

take any monies, shift it to either EURO or UKP.

If that's too messy for you,

then you can switch to AUD or SGD.

[Sebastian]

One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%...

 

This is set at the Central Planning Committee, a year in advance. What's funny to me, really, is that it *SEEMS* that there is a RMB/USD forex market - and there's really not.

 

The Yuan has always been pegged to the US Dollar. Since GW wanted it otherwise, that Central Planning Committee decided to 'make it waver' , just so ol GW would think there's something going on.

 

I'm sorry, but that's the way it is. Don't like it ? shift yer monies into a different currency, not the USD.

[rogerluli]

I just love the pundits bemoaning the fall of the dollar on one hand and then proclaiming that China's RMB is too low on the other. You see, a stronger dollar should equal more RMB, not less. Those wanting the RMB to go higher are actually desiring a weaker dollar.

 

Guess I'm just too old and stupid to figure this out.

 

That's okay Don... We love you anyway... B)

[rogerluli]

An article from Forbes on how the recession in the west will affect China...Dropping their growth rate in 2008 to only 8%... But one interesting piece of good news for many here is that he predicts this slowdown in China will force them by mid-year to abandon the policy of letting the RMB gain in value against western currencies...

 

http://www.forbes.com/opinions/2008/01/25/...straszheim.html

[lostness]

An article from Forbes on how the recession in the west will affect China...Dropping their growth rate in 2008 to only 8%... But one interesting piece of good news for many here is that he predicts this slowdown in China will force them by mid-year to abandon the policy of letting the RMB gain in value against western currencies...

 

http://www.forbes.com/opinions/2008/01/25/...straszheim.html

 

I welcome that news for sure! Especially because I just read this:

http://english.peopledaily.com.cn/90001/90...84/6346389.html

Specifically: Observers said they believed that the Chinese government would seek to allow the currency to appreciate faster to limit inflation.

[rogerluli]

An article from Forbes on how the recession in the west will affect China...Dropping their growth rate in 2008 to only 8%... But one interesting piece of good news for many here is that he predicts this slowdown in China will force them by mid-year to abandon the policy of letting the RMB gain in value against western currencies...

 

http://www.forbes.com/opinions/2008/01/25/...straszheim.html

 

I welcome that news for sure! Especially because I just read this:

http://english.peopledaily.com.cn/90001/90...84/6346389.html

Specifically: Observers said they believed that the Chinese government would seek to allow the currency to appreciate faster to limit inflation.

 

Well now we know fer shure that the RMB will either go up or down...

 

Stay tuned for what actually happens...

[lostness]

There may be some relief for the exchange rate afterall...

 

http://english.peopledaily.com.cn/90001/90...84/6346754.html

 

...Some economists, however, warned that if the yuan rises too fast, it would substantially damage the economy.

"It is better for the yuan's appreciation to go at an annualized rate of about 5 percent," said Yang Fan, economist with the Business School of China University of Political Science and Law. "It would give Chinese enterprises some time to make adjustments."

Studies show that if the yuan crosses 6 against the dollar, it will "bring danger" to the Chinese economy, he warned.

 

I think the bottom line is, nobody has a freaking clue

[Shenzhen K-1]

There may be some relief for the exchange rate afterall...

 

http://english.peopledaily.com.cn/90001/90...84/6346754.html

 

...Some economists, however, warned that if the yuan rises too fast, it would substantially damage the economy.

"It is better for the yuan's appreciation to go at an annualized rate of about 5 percent," said Yang Fan, economist with the Business School of China University of Political Science and Law. "It would give Chinese enterprises some time to make adjustments."

Studies show that if the yuan crosses 6 against the dollar, it will "bring danger" to the Chinese economy, he warned.

 

I think the bottom line is, nobody has a freaking clue

 

Below 7.2 ouch, my travel and retirement plans are taking a big hit!!

[Corbin]

There may be some relief for the exchange rate afterall...

 

http://english.peopledaily.com.cn/90001/90...84/6346754.html

 

...Some economists, however, warned that if the yuan rises too fast, it would substantially damage the economy.

"It is better for the yuan's appreciation to go at an annualized rate of about 5 percent," said Yang Fan, economist with the Business School of China University of Political Science and Law. "It would give Chinese enterprises some time to make adjustments."

Studies show that if the yuan crosses 6 against the dollar, it will "bring danger" to the Chinese economy, he warned.

 

I think the bottom line is, nobody has a freaking clue

 

Below 7.2 ouch, my travel and retirement plans are taking a big hit!! B)

Your not alone on this buddy, but if you wait several thousands of years China and the US will be one land mass. (IE: our continental shelf is moving towards the Asian continental shelf)

[rogerluli]

There may be some relief for the exchange rate afterall...

 

http://english.peopledaily.com.cn/90001/90...84/6346754.html

 

...Some economists, however, warned that if the yuan rises too fast, it would substantially damage the economy.

"It is better for the yuan's appreciation to go at an annualized rate of about 5 percent," said Yang Fan, economist with the Business School of China University of Political Science and Law. "It would give Chinese enterprises some time to make adjustments."

Studies show that if the yuan crosses 6 against the dollar, it will "bring danger" to the Chinese economy, he warned.

 

I think the bottom line is, nobody has a freaking clue B)

 

Below 7.2 ouch, my travel and retirement plans are taking a big hit!!

Your not alone on this buddy, but if you wait several thousands of years China and the US will be one land mass. (IE: our continental shelf is moving towards the Asian continental shelf)

 

I'm afraid that it's going to be much, much longer than that...Imagine the speed at which your fingernails will grow across that distance??? This is called...DEEP TIME...

[Shenzhen K-1]

There may be some relief for the exchange rate afterall...

 

http://english.peopledaily.com.cn/90001/90...84/6346754.html

 

...Some economists, however, warned that if the yuan rises too fast, it would substantially damage the economy.

"It is better for the yuan's appreciation to go at an annualized rate of about 5 percent," said Yang Fan, economist with the Business School of China University of Political Science and Law. "It would give Chinese enterprises some time to make adjustments."

Studies show that if the yuan crosses 6 against the dollar, it will "bring danger" to the Chinese economy, he warned.

 

I think the bottom line is, nobody has a freaking clue B)

 

Below 7.2 ouch, my travel and retirement plans are taking a big hit!! B) B)

Your not alone on this buddy, but if you wait several thousands of years China and the US will be one land mass. (IE: our continental shelf is moving towards the Asian continental shelf)

 

I'm afraid that it's going to be much, much longer than that...Imagine the speed at which your fingernails will grow across that distance??? This is called...DEEP TIME...

 

Rog, that is OK, the way things are going can not retire until then anyway!!

[rogerluli]

There may be some relief for the exchange rate afterall...

 

http://english.peopledaily.com.cn/90001/90...84/6346754.html

 

...Some economists, however, warned that if the yuan rises too fast, it would substantially damage the economy.

"It is better for the yuan's appreciation to go at an annualized rate of about 5 percent," said Yang Fan, economist with the Business School of China University of Political Science and Law. "It would give Chinese enterprises some time to make adjustments."

Studies show that if the yuan crosses 6 against the dollar, it will "bring danger" to the Chinese economy, he warned.

 

I think the bottom line is, nobody has a freaking clue

 

Below 7.2 ouch, my travel and retirement plans are taking a big hit!! B)

Your not alone on this buddy, but if you wait several thousands of years China and the US will be one land mass. (IE: our continental shelf is moving towards the Asian continental shelf)

 

I'm afraid that it's going to be much, much longer than that...Imagine the speed at which your fingernails will grow across that distance??? This is called...DEEP TIME... B)

 

Rog, that is OK, the way things are going can not retire until then anyway!!

 

Not to worry Mark... B) All of us "rich"... B) Americans can afford to retire in China...

[rogerluli]

There may be some relief for the exchange rate afterall...

 

http://english.peopledaily.com.cn/90001/90...84/6346754.html

 

...Some economists, however, warned that if the yuan rises too fast, it would substantially damage the economy.

"It is better for the yuan's appreciation to go at an annualized rate of about 5 percent," said Yang Fan, economist with the Business School of China University of Political Science and Law. "It would give Chinese enterprises some time to make adjustments."

Studies show that if the yuan crosses 6 against the dollar, it will "bring danger" to the Chinese economy, he warned.

 

I think the bottom line is, nobody has a freaking clue

 

Below 7.2 ouch, my travel and retirement plans are taking a big hit!!

Your not alone on this buddy, but if you wait several thousands of years China and the US will be one land mass. (IE: our continental shelf is moving towards the Asian continental shelf)

 

I'm afraid that it's going to be much, much longer than that...Imagine the speed at which your fingernails will grow across that distance??? This is called...DEEP TIME...

 

Rog, that is OK, the way things are going can not retire until then anyway!!

 

Not to worry Mark... All of us "rich"... Americans can afford to retire in China... B)

 

Well 7.2 is already history as today's rate is 7.19...all economists now agree... that the rate will be 6.8 by year's end...