The dollar, the RMB and the euro?

http://mpettis.com/2011/03/the-dollar-versur-the-rmb-and-the-euro/

by cwan • 15 years ago

20 4 15 years ago

theospears• 15 years ago

Some acronyms in the article I had to look up:

RMB: Remnibi, the currency of china. Individual denominations are 1 yuán = 10 jiǎo = 100 fēn GFC: Great Financial Crisis

xedd• 15 years ago

This is an abbreviated excerpt of a larger article.

Lost_BiomedE• 15 years ago

I have been watching the ins and outs of China and the EU in relation to the U.S. for some time. My take is that we are essentially involved in currency wars. Developed nation vs. an 'undeveloped' nation threats of war, sanctions, etc, but developed nation vs. developed nation is an economic fight.

I think the EU and the U.S. are in cahoots to use and prevent a possible china emergence. The U.S. has the reserve currency, with the RMB tied to it. The U.S. gets to determine the rules of the game, which makes their success all the more likely. The economic size and military weight of the U.S. gives it an additional huge advantage.

Inside the U.S., laws have been re-wrote or ignored in a way that they can prevent, delay, or hide problems that would make the economy seriously unstable. They can essentially print money as needed, even if they call it by another name, determine how much and how fast deflationary factors such as housing can proceed, and use their international advantage to help prevent it from getting out of control.

What the FED is doing does not make sense in terms of just U.S. economics, but if you see the global game, it makes a lot of sense.

epynonymous• 15 years ago

can someone paste the text? this site is blocked from within china....

The dollar, the RMB and the euro?

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