China becoming the new international currency

Central banks of NZ and China set up RMB facility
Link
nz.finance.yahoo.com...

Looks like the Chinese weren’t kidding - they have signed up 8 countries now with their RMB as the traded currency for international trade.

I wonder if this is part of the reason for

S&P lowers outlook on US debt to negative
Link
nz.news.yahoo.com...

Well it gets interesting when there is another player in town. Still waiting for that quoted change in the fixed rate of the RMB, that might take some of the heat off.

Quote Link
voiceleaks.blogspot.com...,0

Still likely to bust a few very big bubbles though – good thing or not what does ATS think?

Imaging if the US and China switch places, if china is able to take over everything and start paying people a normal wage if their currency improves could be a complete role reversal if the US dollar continues along its current trend, everything could soon say Made in USA. At least with a bit of luck more people would be employed.

Wow that is sort of a scary thought, the whole situation sucks really and its not the peoples fault its the government and all that bs that is in charge, its pretty much just like gambling the rich in charge will always have money and they get to bet with American peoples livelihoods.

reply to post by kaoticf8


Agree - the mix of the US income used to be mainly productivity now it is more then 60% from investment. When the news of Chinas plans first came out their was a surge of new manufacturing jobs in the States.

What gets me is the complete lack of attention this has gathered. First small article in Reuters then nothing, was wondering whether the TPTB was fighting and the Western allies was rubbing their hands on the change of exchange rate but were ignoring Chinas grab at international currency.

Probably this is right and China's trade will be in RMB and everybody else will stay with the US.