China China is building a yuan currency reserve to compete with the dollar and prop up other economies facing volatility

Nilgiri

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It would be absolutely naive to believe that a single country or it's central bank can uproot and free the world from the manipulated $ dominance.

As the USA is unsuccessfully trying to form alliances to counter China's and other's economy - China with four other countries has set the way to successfully bring up an alternative - and many more countries are bound to follow, since it is only advantageous to their economy and will aid to reset the crippled currencies of 3rd world countries.

....not rocking the boat with the west and avoiding transactions with sanctioned russian companies....

You are referring to India's present "super-deals" with Russian oil? or their reluctance to follow embargoes/sanctions onto Russia?, it doesn't really matter as to which direction India opts to. A country caught in a 2000 year's trap of a society encompassing cast system - will never be able to really develop. Enhancing the GDP just via cheap labor manufacturing, doesn't solve the actual problem of being culturaly unable towards enhancing a society and as such it's economy.

India is different context, set of challenges and issues....that are off topic. You can bring it up in the india coffee thread etc if you want to talk about that stuff and we can check the foundational credibility of knowledge and logic on it.

I am merely pointing out things like this:


and how that dissonance shows up in reality between CCP official posturing.

Which is directly relevant to this "yuan currency reserve" to "compete" (i.e what will simply be posturing again?)

A lot more can be looked up just like that on just this topic.

Or the related reality checks in general that show up be it Carrie Lam Sanctions (actual non-response by CCP banks), Li Keqiang words, Wen Jiabao censure and so on.

In such fell swoops, the whole activity (which many other people here know about and have witnessed over time) of CCP "current power faction" ideologue trolls is undermined....which they inevitably do not realise either.
 

Viva_vietnamm

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Doesn't really matter since China is the biggest I-phone producer and market in the world. With the vast market majority being Chinese brands.
If e.g. Samsung moves out - a Chinese manufacturer will take their market share aka their employees - so?

And if next time e.g. Vietnam, Malaysia or India are not obliging USA political demands - they will be facing a 25% export tax as well. Woosh.. there goes the cheap labor benefit for Apple and etc.

Significance for Investors​


Apple's pivot away from dependence on China as its main manufacturing hub comes with both pluses and minuses. The major plus is that this hedges against the possibility that the United States and China will remain locked in a protracted trade war, with U.S.-imposed tariffs persisting. Another plus is that Apple will realize savings by moving production to lower-cost locales.

On the minus side of the ledger, Apple is moving production away from a country with, as noted above, a well-developed business ecosystem and infrastructure that has served Apple well. As a result, it is possible that Apple's further diversification of production across international boundaries actually may do the opposite of the expected and increase risk. One example was the recent worker riot in India, due to the missteps of a subcontractor under pressure from Apple to ramp up production rapidly at a new plant, in a country whose laws and culture it did not understand.
I just prove that CN is not "manufacturing juggernau" as u guys said. Everyone can replace CN to become another "manufacturing juggernau" such as Samsung, Ipad can move to VN to manufacture Samsung galaxy, Ipad easily.

So, finally, US will defeat CN like Soviet in trade war/ cold war cos CN has Nothing special to win the trade war :cool:
 

xizhimen

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I just prove that CN is not "manufacturing juggernau" as u guys said. Everyone can replace CN to become another "manufacturing juggernau" such as Samsung, Ipad can move to VN to manufacture Samsung galaxy, Ipad easily.

So, finally, US will defeat CN like Soviet in trade war/ cold war cos CN has Nothing special to win the trade war :cool:
For now China is, when China is being replaced and come back to tell us, hopefully you will be still alive by then.
 

Jagdflieger

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India is different context, set of challenges and issues....that are off topic.
Nothing in my statement was "off topic" you simply don't like to hear/read about fact's concerning/pertaining towards your countries politics or social issues.
I am merely pointing out things like this:

..... of CCP "current power faction" ideologue trolls is undermined....which they inevitably do not realise either.
So anyone who defends, supports his country or any other country via substantiated facts - is referred by you as a troll. - interesting.
 

Jagdflieger

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I just prove that CN is not "manufacturing juggernau" as u guys said. Everyone can replace CN to become another "manufacturing juggernau" such as Samsung, Ipad can move to VN to manufacture Samsung galaxy, Ipad easily.
It only proves that foreign investors have a tendency to opt for cheap labor countries - and that political processes also influence such decisions. - nothing else.
So, finally, US will defeat CN like Soviet in trade war/ cold war cos CN has Nothing special to win the trade war :cool:
Again you are posting an unsubstantiated statement, (it's called trolling) you want to go on like this forever? feel free to do so in your own Vietnam section - honestly.
 

Viva_vietnamm

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It only proves that foreign investors have a tendency to opt for cheap labor countries - and that political processes also influence such decisions. - nothing else.

Again you are posting an unsubstantiated statement, (it's called trolling) you want to go on like this forever? feel free to do so in your own Vietnam section - honestly.
And keep repeating "China is manufacturing juggernaut" also should be called trolling or lying. If the investors don't like CN (eg Samsung, Ipad), then they can quit CN and come to VN to keep manufacturing without any big problems.
 

Viva_vietnamm

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For now China is, when China is being replaced and come back to tell us, hopefully you will be still alive by then.
Its depen on if US want to replace CN or not cos US consume most of products import from CN. I just say that " its not Impossible for US to replace CN in manufacturing. US can replace CN by VN to manufacture Iphone, Ipad at any time she wants"
 

Jagdflieger

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Its depen on if US want to replace CN or not cos US consume most of products import from CN. I just say that " its not Impossible for US to replace CN in manufacturing. US can replace CN by VN to manufacture Iphone, Ipad at any time she wants"
Yes - theoretically the USA could do that - but it would be an economic suicide - as such it won't happen.

Presently manufacturers incl. Chinese manufacturers are relocating plants to so called cheap labor countries. That is nothing unusual - or do you think that German companies are still producing low quality/priced flip/flops? China has already announced that in view of raising it's living standard and GDP it isn't interested in producing low quality or low priced products but is enhancing the mid to higher end markets - just as e.g. Germany did from the 70's onward.

However the USA never balanced it's fleeing manufacturers with new products made in USA. Their GDP rise in the past 15 years measured in $ is mirroring to the cent their state deficit. (US$28 trillion) Artificial GDP growth due to taking on endless debts. So the real killer to the US economy won't be China's manufacturing assets but a new banking currency system, IMO based on a new algorithm that will incorporate e.g. actual factory output units and energy consumption rates to determine the actual value of a currency.
 

xizhimen

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India’s top cement maker paying for Russian coal in Chinese yuan​

June 29, 2022

By Sudarshan Varadhan

New Delhi, June 29 (Reuters) – India’s biggest cement producer, UltraTech Cement (ULTC.NS), is importing a cargo of Russian coal and paying using Chinese yuan, according to an Indian customs document reviewed by Reuters, a rare payment method that traders say could become more common.

UltraTech is bringing in 157,000 tonnes of coal from Russian producer SUEK that loaded on the bulk carrier MV Mangas from the Russian Far East port of Vanino, the document showed. It cites an invoice dated June 5 that values the cargo at 172,652,900 yuan ($25.81 million).

Two trade sources familiar with the matter said the cargo’s sale was arranged by SUEK’s Dubai-based unit, adding that other companies have also placed orders for Russian coal using yuan payments.

The increasing use of the yuan to settle payments could help insulate Moscow from the effects of western sanctions imposed on Russia over its invasion of Ukraine and bolster Beijing’s push to further internationalise the currency and chip away at the dominance of the U.S. dollar in global trade.

The sources declined to be identified as they are not authorized to speak to the media. UltraTech and SUEK did not respond to a request seeking comment.

“This move is significant. I have never heard any Indian entity paying in yuan for international trade in the last 25 years of my career. This is basically circumventing the USD (U.S. dollar),” a Singapore-based currency trader said.

The sale highlights how India has maintained trade ties with Russia for commodities such as oil and coal despite the western sanctions. India has longstanding political and security ties with Russia and has refrained from condemning the attack in Ukraine, which Russia says is a “special military operation”.

It was not immediately clear which bank opened a letter of credit for UltraTech and how the transaction with SUEK was executed. SUEK did not respond to a request seeking comment.

INDIA-CHINA-RUSSIA TRADE

India has explored setting up a rupee payment mechanism for trade with Russia, but that has not materialized. Chinese businesses have used the yuan in trade settlements with Russia for years.

For Indian trade settlements using the yuan, lenders would potentially have to send dollars to branches in China or Hong Kong, or Chinese banks they have tie-ups with, in exchange for yuan to settle the trade, two senior Indian bankers said.

“If the rupee-yuan-rouble route turns out to be favourable, the businesses have every reason and incentive to switch over. This is likely to happen more,” said Subash Chandra Garg, a former economic affairs secretary at India’s finance ministry.

India’s bilateral trade with China, for which companies largely pay in dollars, has flourished even after a deadly military clash between the two in 2020, though New Delhi has increased scrutiny on Chinese investments and imports, and banned some mobile apps over security concerns.

An Indian government official familiar with the matter said the government was aware of payments in yuan.

“The use of the yuan to settle payments for imports from countries other than China was rare until now, and could increase due to sanctions on Russia,” the official said.

India’s energy imports from Russia have spiked in the recent weeks as traders have offered steep discounts, Reuters reported this month. New Delhi defends its purchases of Russian goods saying a sudden halt would inflate prices and hurt consumers.

Business units of Russian coal traders in Dubai have become active hubs for facilitating deals with India in the recent weeks, as Singapore has grown wary of provoking western nations that invoked sanctions against Russia, said multiple coal traders based in Russia, Singapore, India and Dubai.

A Russian coal trader based in Dubai said the biggest challenge was sending roubles to Russia.

“You can either take payments in yuan in Dubai, or receive it in dollars or (Arab Emirates) dhiram and convert it to rouble” he said, adding it was easier to convert the yuan to rouble and was preferred over other currencies.

($1 = 6.6899 yuan)

 

Nilgiri

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Nothing in my statement was "off topic" you simply don't like to hear/read about fact's concerning/pertaining towards your countries politics or social issues.

So anyone who defends, supports his country or any other country via substantiated facts - is referred by you as a troll. - interesting.

If you think I was referring to you, you are mistaken.

There is a well known Chinese spam troll in this forum though....who is extremely low on facts and quite temperamental (when a discussion actually arises on something or someone brings his off-putting nature to attention).

I just do not even quote that fellow given his past behaviour (here and elsewhere) and proclivity.....but he like the rest of his archetype always end up defeating their own purpose. There is something to learn from it in the many parts of the CCP at large that have driven, emboldened and sustain and reflect that approach....but I doubt they will either.
 

Jagdflieger

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If you think I was referring to you, you are mistaken.

There is a well known Chinese spam troll in this forum though....who is extremely low on facts and quite temperamental (when a discussion actually arises on something or someone brings his off-putting nature to attention).

I just do not even quote that fellow given his past behaviour (here and elsewhere) and proclivity.....but he like the rest of his archetype always end up defeating their own purpose. There is something to learn from it in the many parts of the CCP at large that have driven, emboldened and sustain and reflect that approach....but I doubt they will either.
I don't see anything substantially being wrong with statements or posts on in this China section. Some times folks get carried away.

Whatever has been posted since my being here (and as far as I can judge - also before me) is substantiated info in regards to news coming from the Chinese side. That some posters are very proud and love to remind others about being no. 1 here and there, might be perceived as being annoying, but it wouldn't change the fact or substantiated content of the postings/statements.

if someone wants to enter good discussions is up to the respective poster - many are simply content to post "news" - it's their choice wouldn't you agree?

And as you can see for yourself - if someone posts unsubstantiated statements (no matter from which side, or point of view) I will feel free to counter just as anyone else is free and very welcomed to do so. - But I think and hopefully do all others, that trolling (aka stating false, or misguided information over and over again) is not the best way to pursue discussions. So let us work on this together - agreed?
 

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