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Old 23-07-05, 09:02 AM   #1
floydian slip
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Exclamation China revalues the Yuan!

This is big folks! The first time in decades.

http://www.forbes.com/newsletter/200...apbox_inl.html

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Mostly, I am concerned about monkeying with a situation as fragile as Chinese growth, credit markets and politics. They have their hands full already. There were riots in the suburbs of Shanghai earlier this week, and lots of recent violent incidents in rural areas. They have almost as many migrant construction workers as we have people. Doesn't seem to me that China blowing up would be a good thing for any of us.

There will also be a direct impact on the U.S. housing market. China's currency move translates directly into higher mortgage rates for American home owners, and it accelerates the end of the great American real estate boom by pushing home prices lower.
Wal-mart, Target, and most of the things we consume will be getting more expensive soon.

If anyone has learned anything about the PNAC, you would know the main goal is to contain China before they get to big economically and militarily. Could it be too late? What can you do with a surplus of 100,000,000 angry men ? Let them relieve some stress by rioting in the streets or ship them off with uniforms and guns and make them believe its all Americas fault.

Or will things be just fine?
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Old 23-07-05, 11:50 AM   #2
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everything will be fine, the limited float is a reflection of the strength of the chinese economy and is overdue. Bush has been bitching about the undervalued yuan for years.

Although if china diversifies its currecy reserves as it is likely to do (it's pegged to a basket of currencies now rather than the greenback soley) it may bring about a fall in the dollar, which is bad news for everyone.

China's worked hard for its growth. Don't expect them to lose control. A conventional war with the US is impossible and vice versa. They've also got the Olympics in 2008 and any confrontation over Taiwan will be put off until after that. And I expect the US will just let them take it.
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Old 23-07-05, 12:06 PM   #3
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Originally Posted by naz
everything will be fine
even Alan Greenspan seems to think so.


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China's decision to let its currency rise in value is 'a good start' toward better aligning the Asian trade giant's economy with the rest of the world, Federal Reserve Chairman Alan Greenspan said yesterday.
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Old 25-07-05, 08:44 AM   #4
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Floyd Floyd Floyd…… The sky is not falling. I thought you were going camping? This is a very good thing, The US and other countries have been putting political pressure on China to make this move. If China didn’t chances were very good the US was going to implement trade sanctions. China’s currency is way undervalued right now. I am not going to go into the full financial and economical reasons why this is good for all countries, but it is. Search Google and avoid the “Sky is Falling” web pages to find the proof.
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Old 25-07-05, 12:28 PM   #5
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sinner sinner sinner... wellsy wellsy wellsy... you may think you know how my mind works, but you havent a clue. Since when is forbes a 'sky is falling' website. Did you even read my last post before this one. You are so poor you cant afford to pay attention.

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I thought you were going camping?
But you did get one thing right. There is hope for you yet.
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Old 25-07-05, 01:01 PM   #6
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Originally Posted by floydian slip
sinner sinner sinner... wellsy wellsy wellsy... you may think you know how my mind works, but you havent a clue. Since when is forbes a 'sky is falling' website. Did you even read my last post before this one. You are so poor you cant afford to pay attention.



But you did get one thing right. There is hope for you yet.


You are right I don't know how your mind works and I really don't care either. Never said Forbes was a Sky is Falling website, you just assumed I did. Bad assumtion. I agree, I am poor, Things are looking up though, I am thinking about moving back to the UK, Bermuda to be exact . Been offered offered a job there. Just working out the details of the contract they want me to sign.
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Old 26-07-05, 01:35 AM   #7
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you care or else you wouldnt have replied

Good luck on the Bermuda deal, i hope it all works out for you.
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Old 23-09-08, 01:26 PM   #8
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Originally Posted by floydian slip View Post
This is big folks! The first time in decades.

http://www.forbes.com/newsletter/200...apbox_inl.html



Wal-mart, Target, and most of the things we consume will be getting more expensive soon.

If anyone has learned anything about the PNAC, you would know the main goal is to contain China before they get to big economically and militarily. Could it be too late? What can you do with a surplus of 100,000,000 angry men ? Let them relieve some stress by rioting in the streets or ship them off with uniforms and guns and make them believe its all Americas fault.

Or will things be just fine?
Is it wrong to quote myself from 3 years ago?
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