China is an odd but effective refuge from the coronavirus crisis

[Mista]

what even is that last name in Chinese?

蔡

 

[nang2]

Yuan is actually stable at 7 ish. Saudis are being screwed by US and is now in survival mode. Staying in the Dollar trading system will mean end of the Saudi regimes. Goods are made in China and exchanged for oil, why should there be a US Middle man? Remember Dalian oil futures rose from nothing to become the third largest oil trader in a year, all prices in yuan.

Most US corporation survive on cheap debt n wallstreet casino. Alot now require bail outs, US interest is now 0, China did not even touch the rates... This shows how resilient the economy is. Im here now when ppl think of shutdown in China, they thought there is no economic activity, the whole activity shifted online.

Check USD/CNY rate in the last week. Yuan is simply trying to peg with USD as usual, but it still went down in the last week. Other currencies fared even worse. In general, USD is the safe haven in crisis.

 

[Han Patriot]

Check USD/CNY rate in the last week. Yuan is simply trying to peg with USD as usual, but it still went down in the last week. Other currencies fared even worse. In general, USD is the safe haven in crisis.

Well It's not a safe haven actually, it is the only reserve currency and US is again printing it to the trillions. People have no choice, I track Yuan Dollar regularly, the currency is not pegged to USD anymore, it does fluctuate alot. From 650 to 700, but even with a virus it is relatively stable at 7 ish.

US Dollar strengthening is because companies are liquidating asset and the currency of choice is dollars. Anyway, I am not a US collapse supporter, I believe there is a chance for China to become like Euro, take ar und 30 to 40% of reserve currency share.

 

[JSCh]

Chinese scientists destroyed proof of virus in December | The Sunday Times

FYI, it is a private lab that obtain the virus sample from a hospital.

I think it would be safer for us all, that a dangerous pathogen should be kept under tight security and strictly regulated and under gov't authoritative care.

 

[nang2]

Well It's not a safe haven actually, it is the only reserve currency and US is again printing it to the trillions. People have no choice, I track Yuan Dollar regularly, the currency is not pegged to USD anymore, it does fluctuate alot. From 650 to 700, but even with a virus it is relatively stable at 7 ish.

US Dollar strengthening is because companies are liquidating asset and the currency of choice is dollars. Anyway, I am not a US collapse supporter, I believe there is a chance for China to become like Euro, take ar und 30 to 40% of reserve currency share.

Nothing is really safe. safe haven is a relative term. It is just safer than others. I wouldn't bet on Yuan since Chinese government has no good track record on fiscal discipline. There, everything is highly politicized and the government spends money without much accountability. US fiscal discipline is getting a lot worse recently but still better than China.

 

[Song Hong]

The only safe haven during worldwide financial crisis is USD. It was agreed that worldwide central bankers would intervene in favor of dollars, suppressing all other national currencies and precious metals.

Any wall street crash will see dollar skyrocketed.

 

[beijingwalker]

Nothing is really safe. safe haven is a relative term. It is just safer than others. I wouldn't bet on Yuan since Chinese government has no good track record on fiscal discipline. There, everything is highly politicized and the government spends money without much accountability. US fiscal discipline is getting a lot worse recently but still better than China.

Really, check this out

 

[nang2]

Really, check this out

We were talking about finance, not medicine. Should I categorize you into the stupid Chinese group?

 

[beijingwalker]

We were talking about finance, not medicine. Should I categorize you into the stupid Chinese group?

No, you are talking about it, not me, so you can go to that group you designated for yourself.

 

[nang2]

No, you are talking about it, not me, so you can go to that group you designated for yourself.

Please, improve your reading comprehension skills before writing.

 

[beijingwalker]

Please, improve your reading comprehension skills before writing.

I m Chinese, I don't care about improving the skill of your master's language, if you don't like it, don't come to comment in my threads.