China’s Renminbi May Supplant Dollar

[KALKI]

I was responding to your comment and I believe it has every bit to do with the topic.
Sad news for you is, the make and break of the reserve currency is not down to what you think.
Looking at the economy as a whole and America and China being the top two economies, there really isn't much to choose from. Don't even bring Euros into it, they will be lucky not to get pulled deeper into the hole by countries such as Spain, Portugal and Italy.

The first mistake you are making is to assume that I'm not on your side.

I never said anything which could prove that.

I have merely said that China must foster a free media which could be the best bet to boost investor confidence.

There are many things which go into making a reserve currency.

China has some, and will have to develop some.

Free media merely fecilitates this development.

 

[jdme]

Is China going to peg its currency to gold? This is after fully floating RMB.

 

[Obambam]

The first mistake you are making is to assume that I'm not on your side.

I never said anything which could prove that.

I have merely said that China must foster a free media which could be the best bet to boost investor confidence.

The so-called free media that you speak of is merely just a tool and a double edged sword, whether it will actually help to the degree you speak of is just your own personal opinion. The "free media" is certainly not the Holy Grail of the American economy and its currency.

There are many things which go into making a reserve currency.

China has some, and will have to develop some.

Free media merely fecilitates this development.

That is not the only thing that can faciliate its developments as the number one currency but just one of many.

 

[CardSharp]

Supplant? No for a decade or more. China doing a couple of trillion of RMB trade internationally? very possible in the next few years

http://www.defence.pk/forums/china-...border-rmb-settlement-developing-rapidly.html

 

[below_freezing]

The first mistake you are making is to assume that I'm not on your side.

I never said anything which could prove that.

I have merely said that China must foster a free media which could be the best bet to boost investor confidence.

There are many things which go into making a reserve currency.

China has some, and will have to develop some.

Free media merely fecilitates this development.

Did the suppression of people accused of "communism" and blacks in the 1950's stop the USD from becoming a reserve currency? Did COINTELPRO monitoring human rights groups in the US stop the USD from becoming a reserve currency?

 

[lem34]

What is this guys lot of you are missing the point here. The articles supports the assertion that dollar will soon no longer be reserve currency. In fact when a lot of indians were laghing at me a few weeks ago below freezing gave me a thank you when I said it would happen in the next 5 to 10 years. The consequances of that are massive for all of us. For america its the end

 

[gambit]

Did the suppression of people accused of "communism" and blacks in the 1950's stop the USD from becoming a reserve currency? Did COINTELPRO monitoring human rights groups in the US stop the USD from becoming a reserve currency?

Then perhaps China should do more of the Chinese version of those things to speed up the acceptance of the renmibi as global reserve currency.

 

[CardSharp]

Then perhaps China should do more of the Chinese version of those things to speed up the acceptance of the renmibi as global reserve currency.

If you read carefully he said the USD gained global currency status in spite of those things.

 

[jdme]

What is this guys lot of you are missing the point here. The articles supports the assertion that dollar will soon no longer be reserve currency. In fact when a lot of indians were laghing at me a few weeks ago below freezing gave me a thank you when I said it would happen in the next 5 to 10 years. The consequances of that are massive for all of us. For america its the end

Do you even understand what it means to have your national currency as world currency?

 

[Jade]

Given the past lessons, in future there won't be a single currency as a reserve currency. It would be a basket of currencies. Renminbi is certain to be in the basket of currencies.

 

[no_name]

Possibly there would be a transition period where the Renminbi would be used in conjunction to the Euro and the Dollar as the currency triad. Eventually these three will compete and there would be lots of wrestling on surface and behind the scenes.

Reserve currency requirements are a strong, competitive economy, political stability maybe backed up by military powess, and also capacity for indepedent foreign policy formulation and execution- Which is why I don't think currencies like the yen would be seriously considered as a reserve currency candidate.