China buying oil from Iran with yuan

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posted on May, 8 2012 @ 03:42 PM
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Old news is old. They are considering it because of US Sanctions. Meh.

It always tickles me how many people think China is poised to overtake the United States in terms of super-power status.

It's just not true. If the dollar collapses, so does the yuan. The reality is, there wont be any 'new super-power' for a while to replace the US, other than international lending agencies like the IMF. The notion that China will become the 'new US' is a bogeyman. Their economy is a giant bubble, and they will be wracked with internal troubles when their economy finally pops.

The real battle right now is between the US/UK/EU/IMF.
edit on 8-5-2012 by stanguilles7 because: (no reason given)




posted on May, 8 2012 @ 03:47 PM
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Originally posted by Germanicus
reply to post by grantbeed
 


America will lose its Reserve Currency status before long.


If they do, it will be to the UK or the IMF.



posted on May, 8 2012 @ 03:52 PM
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Can China avoid the middle-income trap?

The World Bank believes that the export-led model that has delivered the past 30-years of growth and development in China has now run its course.


At the heart of the World Bank’s paper is the middle-income trap – the notion that developing economies tend to stop developing without institutional change once their per capita income reaches $10,000-12,000 a year.

World Bank believes that China can only succeed in becoming a modern, high income country if it implements a six-step series of reforms, namely:

1. Market-based reforms, including redefining the role of government, reforming and restructuring state enterprises and banks, developing the private sector, promoting competition, and deepening reforms in the land, labor, and financial markets.

2. Accelerate the pace of innovation and create an open innovation system in which competitive pressures encourage Chinese firms to engage in product and process innovation not only through their own research and development but also by participating in global research and development networks. Essentially, the World Bank recommends that China seek to move away from being an imitator to an innovator in its own right.

3 Introduce market-based incentives, regulations, public investments, industrial policy, and institutional development that encourages China to transition to a greener economy and fosters more efficient resource use.

4. Reducing inequality by expanding opportunities and promoting social security for all by facilitating equal access to jobs, finance, quality social services, and portable social security.

5. Strengthen the fiscal system by mobilizing additional revenues and ensuring local governments have adequate financing to meet heavy and rising expenditure responsibilities. This reform could also reduce the need for local governments to raise tax revenues via property development and speculation.

6 Sixth, seek mutually beneficial relations with the world by becoming a pro-active stakeholder in the global economy, actively using multilateral institutions and frameworks, and shaping the global governance agenda.

Link
Link


Will China escape the middle income trap and become a superpower?

What is reasonably certain is that the export-led model has run its course.

The USA is also economically gunning for China and has already managed to cause major inflation in the Chinese economy with quantitative easing.


edit on 8-5-2012 by ollncasino because: formatting



posted on May, 8 2012 @ 04:14 PM
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China's chickens have not yet come home to roost.

The US Dollar is deeply entrenched and it will take much more than oil trade to change that.

Of course, we could continue to allow our supranational banking cartel affiliate "The Fed" to screw with our monetary policy until we lose that status... and we probably will since the political parties are all part of the "big club" (and we ain't in it!).

China has yet to face the real demons of a swelling middle class.... and believe me they will. Their attempt to control it will be using the tools they developed during the cultural revolution... and we already know that doesn't work.

Interesting times....



posted on May, 8 2012 @ 04:31 PM
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Originally posted by babybunnies
Old story. China has been pushing for some time to have the Yuan as the world's reserve currency.

It's more stable than the US dollar.


If this is true...then why is that the Chinese peg the Yuan to the U.S. Dollar?

Not to the Euro...not to the Pound...to the U.S. Dollar.

I would suggest that it is because, by pegging the RMB to the USD this promotes a stable international currency value for the RMB. In addition, it allows them to manage and manipulate desired trade imbalances by ensuring that American goods are relatively expensive - and Chinese goods remain relatively cheap.



posted on May, 8 2012 @ 05:07 PM
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Originally posted by Germanicus
reply to post by grantbeed
 


America will lose its Reserve Currency status before long. The end is near. All the United States has going for it right now is a strong military and the Reserve Currency status. America only keeps the Reserve Currency status because of its military. America cant pay its debt. People will stop buying Government Bonds soon. Hyperinflation is a matter of when,not if.


And if America loses its status as the defacto Reserve Currency...how will this spell the end of the United States exactly? Relatively fewer US dollars will be held by Foreign Governments in their "Foreign Reserves" accounts...in favour of other currencies. That erosion has already begun, since the introduction of the Euro.

The result is a percentage reduction in the demand for US Dollars, and therefore a slightly lower value for the currency - which actually provides a needed competitive boost for American made products.

The Canadian Dollar is not the World Reserve Currency...they seem to be doing okay (Moody's AAA Stable rating).

And please explain, if you will, how it is that military power is the deciding factor in what is the placeholder as Reserve Currency.


The BRICS Bank will be the new World Bank. The East will rule the world soon. All most famous celebrities will be hot Asians before too long. America will become a 'developing nation'.


I have to agree with you here that Asians are hot...the women anyway.


China will overtake the US economy as the worlds largest within 5 years. America will really have no right to the Reserve Currency status by then. So America has 5 years at the most to fix things. I think America has a lot less than 5 years though. And imagine an America with no Reserve Currency status.


Well, maybe they will overtake the U.S., and maybe they won't. It is tempting to think that China's curve will just keep trending up...but that is highly unlikely. They are highly dependent on Western economies to take up their relatively cheap produced goods...and if they fly too high (contributing to sustained recessions in their customer's economies), they will have to try to accelerate the move to domestic consumption - which can only effectively happen if a strong middle class is created (thereby driving up their labor and other costs...thereby reducing their international competitiveness.

They are building a huge real estate bubble...which will burst at some point (wiping out a lot of indiviudal wealth and buying power). As their economy levels out, and people's expectations of standards of living increase are dashed...there will be social upheaval of many sorts.

There are going to be bumps along the road for China.


All America is is a bunch of parasites sucking all the money while producing nothing of real value,the rest of America works in the Services Industry serving these parasites coffe. America produces hardly anything other than fiat money and debt. What happens when the US dollar is valued at what its really worth?


America produces "nothing of real value"...wow. A previous poster has done a pretty effective job of debunking this notion. As to the numbers of American's working in the Service Industry...this is largely a by-product of decades unfair labor, intellectual property and currencies practices by the Chinese, that have led to wholesale factory closures (forcing people into low paying service jobs).

The real question should be what state would the Chinese economy be in right now if the Yuan was valued at what it is really worth. The answer is, the Chinese economy would come crashing down...and the U.S. economy would take off again.



posted on May, 8 2012 @ 05:09 PM
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Hmmmm, I love seeing american SITizens views on their millitary, as well as their false national power. I do not doubt you obese gun loving lot would stand up and try to fight off any invader, but why invade when you are putting yourselves in the #ter? Not to mention the fact everything your " Boys " have sworn to protect is being pulled out from underneath them. Your government is losing it's people's faith, your " Soldiers " Don't want to fight the wars they are forced to fight. China's military is ruthless, and would likely have no problem slaughtering anything in front of their sights. The American Superiority complex is your greatest weakness in the coming times, you are not as strong as you think. What makes you a super power? It isn't your economy, it isn't your society, You are technologically on par with many every other first world nation, you have a moderate population with a relatively low enlistment rate compared to china or even russia. You all seem to think Iran is no different than the nations you've previously raped. I chose that word carefully mind you. You all seem to think Israel is simply going to go it alone with your currency and equipment alone, it's not the case. If Israel gets the green light, they will certainly start a war with Iran, but shortly after the US will have to mobilize, and Iran can push back just as hard. Russia has stated if the US get's involved they will join the fight against you. With the Russians, may very well come china, they are itching to prove to you how superior they really are. You can boast all you want, but when it comes down to it. What makes you a super power? Every day it becomes more and more obvious it's your reserve currency saving your ass. If you lose that, you have nothing and every poor suck you've abused, raped, pillaged and pissed off will be coming for you. I know it's been said many times, but it's coming guys, and you really need to figure some way to stop it. If you lose the reserve currency, your allies will go with it. You have nothing to offer anyone, not even your own people. More americans are moving away from america these days than ever before, and from my own personal experience they are soldiers, doctors, engineers, and families. They people you are so proud of are realizing they are on a sinking ship and leaving. Those of us landlocked with you are scared, and it isn't because we think " Terrorists" are trying to destroy the western way of life, it's because we are waking up and realizing The US is the bad guy, and you're starting to make drastic desperate moves, and their is nothing scarier than Desperate men.



posted on May, 8 2012 @ 05:15 PM
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Little disappointing to hear this (if it is true) but not really surprised.

{SNIP}to bleed their money... that..... well that folks are treating us like the belligerent drunk friend that shows up at a party....don't really want to dis them or send them away but would rather not hang out with them either....we have become like the special ed friend....embarrassing.

Our arrogance has done this...if we don't move to change this...well...the world WILL move around us....the crony bastards caused this with their insatiable greed....fix it now or fix it never.....

you ask for it folks and now you got it....every empire wanes.....England....somehow....managed to fade with dignity....can we do the same?...or will we badger the world and kill untold masses to re-assert ourselves? which is it going to be? We have lost respect so our only other avenue is fear....so...what do we do?...Do we slaughter the innocent to show how tough we are?

I think it's time to make a new plan....
edit on 5/8/2012 by tothetenthpower because: (no reason given)



posted on May, 8 2012 @ 05:29 PM
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Apparently I hit a nerve with this topic....no one wants to hear how far we have fallen to the feet of Asia. I am prob gonna be banned for this post but that is ok...the truth must be said. I got two...count them 2 warnings for one single post where I said that America was wallowing at the feet of asia for money(and we are) I used some references to fellatio but...whatever....



....My post was edited and the impact lessened but it matters not....we have opened ourselves up to a barrage of influence...and why is that?......personal greed.

I don't understand the philosophy of this site...it likes to proclaim itself as being unbound and freethinking but when you get really close to the devil....man does he lash out....

I will behave...I suppose I should log off and not log in for the mandatory 72 hours....that way I can't get more negative publicity from the tools....but folks listen to me....you are being played...even here information is subject to scrutiny...and that is NOT democracy....If I can't make it back...well thank you for a good couple of months....I enjoyed you folks alot...I am passionate and I am proud to be an American....If I get booted...well...I'll just change providers and networks and I'll be back...smarter and more clever...and I'll gut those that played the "god" card.....



posted on May, 8 2012 @ 07:46 PM
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Percentage of World Manufacturing (nominal) EU -24.2% USA - 18% China - 14% Japan - 6.4%
reply to post by ollncasino
 


Manufacturing what?
Look at the items around your home, take note of how many say "manufactured in..whatever EU country or US for that matter" and see how many say "Manufactured in China"
I dont believe the numbers you provided.



posted on May, 8 2012 @ 07:50 PM
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reply to post by grantbeed
 


Breaking news: America does not own the entire Earth.

Who cares?

The global bank gets it all at the end of the day.



posted on May, 8 2012 @ 07:58 PM
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reply to post by neo96
 


Good for China.

I'm not siding with them, but the criminals running our country that sold us out with their foreign trade pacts to the expense of this nation to "Communist China", have everything coming to them. When they sound the alarm to declare China the new Enemy, I will be laughing in their faces and side with them neither.

People need to be responsible and not side with the traitors in this country that sold us out to Communist China but side with what is right.

Companies like Communist Walmart that rely on cheap Chinese Labor can hitch a ship ride to China.
edit on 8-5-2012 by jacobe001 because: (no reason given)



posted on May, 8 2012 @ 09:27 PM
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reply to post by mobiusmale
 


Yeah, i agree with that pretty much completely.



posted on May, 8 2012 @ 11:41 PM
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Originally posted by zroth
reply to post by grantbeed
 


Breaking news: America does not own the entire Earth.

Who cares?

The global bank gets it all at the end of the day.


Breaking News, they think and act like they do. Well, the American Government anyhow. And as for who cares...it's kinda obvious that what america does has huge impacts on the rest of the World, so yeh, lots of people care.





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