China's yuan hovers at near 4-year high as Russia attacks Ukraine, boosted by rising demand for less risky assets as Russian forces began attacking

[Han Patriot]

Putin loses $60 billion with north stream 2, $200 billion in exports, in total $260 billion per year. What freedom will he enjoy with less money?

Lost revenue not loses, the gas is still there, and can be sold to China. China can absorb the whole European consumption easily mate, and we produce whatever the Russians need. Lololol.

Instead of Siemens, but Hollysys tech, Dongfang turbines, Zpmc machinery, mindray medical devices etc, our only technolgical bottleneck is Euv and <5nm tech. The world's supply chain is in China thank you US for creating a new Chinese century. We didn't even fire a single bullet. Lololo

 

[MH.Yang]

The exchange rate of CNY has risen to 6.3016.

My God, how much money has gone to China?
Is this abnormal appreciation really OK? Is the central bank not prepared to intervene?

 

[Shotgunner51]

our only technolgical bottleneck is Euv and <5nm tech

Well <5nm is for ultra low energy consumption apps like cellphone, while for almost all other apps from auto, electrical machinery, aviation to military use >14nm, China Mainland fabs can fully provide Russia, no worry.

EUV lithography is blown out of proportion, it was Apple that bankrolled hence changed the race course from ArF immersion to EUV.

Like all fabs, TSMC's supply chain is heavily dominated by the Japanese in the 1980's, both materials (till even nowadays) and machinery. To break monopoly of Nikon lithography machine, Dr. Burn-Jeng Lin of TSMC invented Immersion lithography tech and brought ASML to assemble the 193nm immersion lithography machine, three years ahead of Nikon's new products. Samsung and Intel all jumped in and invested heavily with this new tech, bringing along with their capital (buy ASML shares), purchase orders and manpower to develop this tech all the way to nowadays. The cartel of TSMC, along with Samsung and perhaps Intel, can erect another ASML if needed, they are the ones dictating the techs and supply chain.

TSMC originally plan to use ArF immersion lithography all the way down. It was back when ASML was struggling with EUV, making slow progress on a questionable technology, they were looking for an early adopter to take the plunge and convince the industry that EUV was real. At the time, Samsung, TSMC and Intel were not signed up to EUV and viewed it very suspiciously. Nobody was willing to be the first to commit to it. Then Apple changed all that by telling TSMC it needed to do EUV, and Apple would write a cheque for it. ASML got into a room with TSMC management and cut a deal, TSMC went from an EUV non-believer to a full on convert virtually over night. TSMC went from “never EUV” to its biggest customer and user, with cheque written by Apple.

Nonetheless SMIC has determined to explore FinFET N+1 without EUV, various paths are under experiment including going further down on ArF immersion (which has been suspended by TSMC), or adopt new laser lithography tech from SIANO (Suzhou Institute of Nano-tech & Nano-bionics).

ASML is the key to Intel’s Resurrection Just like ASML helped TSMC beat Intel - Semiwiki

-Intel's access to high-NA EUV tools may be their elixir of life -TSMC's EUV adoption helped it vault faltering Intel & Samsung -Maybe ASML should invest in Intel like Intel invested in ASML -Shoe is on the other foot- But cooperation helps chip industry Intel is dependent upon ASML for its...

semiwiki.com

 

[casual]

The exchange rate of CNY has risen to 6.3016.

My God, how much money has gone to China?
Is this abnormal appreciation really OK? Is the central bank not prepared to intervene?

Well, China is the real winner in the conflict as it just gained Russia as an economic colony. In time of Crysis, money will go to the largest economy. This is a sign that China has now overtaken the US economically.

 

[MH.Yang]

Well, China is the real winner in the conflict as it just gained Russia as an economic colony. In time of Crysis, money will go to the largest economy. This is a sign that China has now overtaken the US economically.

If CNY can appreciate to 6.0614, China only needs 6% economic growth in 2022 to make the total GDP exceed $20 trillion.
Our per capita GDP will also exceed three EU countries. Bulgaria, Romania, Croatia.

 

[Shotgunner51]

This is a sign that China has now overtaken the US economically.

China's economy is far bigger than US by all real counts, the only thing that masks such reality is RMB:dollar exchange rate, and to a lesser extent US adds imputation into their GDP stats.

Though out of very different motives, both US and China want to maintain a high dollar exchange rate. Financial fundamentals have determined that a strong RMB is inevitable in the long run, but it's against our national interests (asset holding, exports) to have RMB appreciating too fast, the pace must be gradual, with its side effects manageable.

 

[Zsari]

Russia lacks land? No. I don’t understand what Putin wants more lands from other people. He should focus on bringing prosperity to his people instead of wars.

A colleague of mine who is German says most of flats in Russia don’t have in-house toilets. Maybe Putin should spend more efforts on that problem.

What Gorbachev fumbled away, Putin is trying to recover. A good cause overall.

 

[Viet]

Germany may fall to Russia again

Nonsense
Last time in 1945 russia amassing 3 million men to assault Berlin. That’s multiple more than 200,000 men Putin throws now towards Kiev. Germany is not an easy cake.
But today if Russian tanks reach anywhere close to Germany borders nukes will fly towards Moskow.

What Gorbachev fumbled away, Putin is trying to recover. A good cause overall.

Beware, he may watch out to take a chunk out of China. Xi Jingping is rich. Putin has nothing to lose.

 

[Zsari]

Beware, he may watch out to take a chunk out of China. Xi Jingping is rich. Putin has nothing to lose.

Lol. China is what kept the effects of the sanctions tolerable for Russia. Trying to instigate division between the two doesn’t work thanks to the aggressive stands the US has taken.

 

[GiantPanda]

China's economy is far bigger than US by all real counts, the only thing that masks such reality is RMB:dollar exchange rate, and to a lesser extent US adds imputation into their GDP stats.

Though out of very different motives, both US and China want to maintain a high dollar exchange rate. Financial fundamentals have determined that a strong RMB is inevitable in the long run, but it's against our national interests (asset holding, exports) to have RMB appreciating too fast, the pace must be gradual, with its side effects manageable.

China uses up 50% of the world's steel every year. It makes more cars, buys more cars, uses up more cement in one year than the US had since 1900 and even produced and drink more beer than the US.

How is it in any way possible that the gross national PRODUCT of the US would be bigger than China's when China makes and uses so much more?

Unless they are adding up royalties and lawyer fees as "product" there is no way the GDP of a country that uses half the world's steel and cement (the core materials of any industrialized economy) would not be the world's largest GDP and that by a wide margin.

 

[Han Patriot]

China uses up 50% of the world's steel every year. It makes more cars, buys more cars, uses up more cement in one year than the US had since 1900 and even produced and drink more beer than the US.

How is it in any way possible that the gross national PRODUCT of the US would be bigger than China's when China makes and uses so much more?

Unless they are adding up royalties and lawyer fees as "product" there is no way the GDP of a country that uses half the world's steel and cement (the core materials of any industrialized economy) would not be the world's largest GDP and that by a wide margin.

It's called wallstreet, you print cash and invest in stocks, and that is called the finance industry and it is included in the GDP calculation.

 

[beijingwalker]

Abrdn APAC CEO Sees China Government Bonds as Safe Haven​

 

[JSCh]

Ukraine crisis: yuan’s emergence as a safe haven a win for China’s economy

https://twitter.com/x/status/1498686069956558884

 

[casual]

China's economy is far bigger than US by all real counts, the only thing that masks such reality is RMB:dollar exchange rate, and to a lesser extent US adds imputation into their GDP stats.

Though out of very different motives, both US and China want to maintain a high dollar exchange rate. Financial fundamentals have determined that a strong RMB is inevitable in the long run, but it's against our national interests (asset holding, exports) to have RMB appreciating too fast, the pace must be gradual, with its side effects manageable.

US still have its dollar reserve currency status going for it.

to challenge this China needs to allow the RMB to be freely traded but so far China hasn't been willing to do that.

 

[siegecrossbow]

The exchange rate of CNY has risen to 6.3016.

My God, how much money has gone to China?
Is this abnormal appreciation really OK? Is the central bank not prepared to intervene?

Yuan appreciating too fast is bad for the economy. They will intervene before it hits 6 yuan per dollar.