Euro on track to slump to parity against dollar within weeks, humiliating milestone for the latest blow to the credibility of Europe's single currency

[Abdul Rehman Majeed]

This is good news. Now EU can be replaced by US Dollar. All Western countries could switch to US dollars.

 

[MH.Yang]

Airbus? Rolls-Royce? Etc. Etc.

The EU is an economy at the same level as China and the USA. For such a large economy, if only what you said, it is really no technology.

BTW: If you say Rolls Royce refers to cars, then it is only a luxury, not technology. Also, it belongs to the Anglo Saxons, not the EU.

 

[VCheng]

The EU is an economy at the same level as China and the USA. For such a large economy, if only what you said, it is really no technology.

BTW: If you say Rolls Royce refers to cars, then it is only a luxury, not technology. Also, it belongs to the Anglo Saxons, not the EU.

Is that why China just bought 300 Airbus jets because they are not really technology? Oh, and there is another Rolls-Royce in Europe (which is what you claimed earlier and then changed your story to EU ) that makes aircraft engines (the kind that China cannot make).

(not to forget etc. etc. There is more.)

This is good news. Now EU can be replaced by US Dollar. All Western countries could switch to US dollars.

Nobody wants a dead currency like the USD.

 

[Akritas]

Europe has no technology, only brands. For example, Gucci, Dior, palacegift, Louis Vuitton, Rolex, Chanel, etc.

Europe has Airbus, Siemens, Thales, Leonardo, Mercedes, Volkswagen, Novartis, etc

The EU is an economy at the same level as China and the USA. For such a large economy, if only what you said, it is really no technology.

BTW: If you say Rolls Royce refers to cars, then it is only a luxury, not technology. Also, it belongs to the Anglo Saxons, not the EU.

Innovation score.....

 

[MH.Yang]

Europe has Airbus, Siemens, Thales, Leonardo, Mercedes, Volkswagen, Novartis, etc


Innovation score.....

View attachment 859024

 

[Akritas]

View attachment 859026

So what?
It's one thing to say that Europe has no technology and another to say who you lead.

 

[Viet]

These Europeans who rely on high-end luxury goods production are actually the biggest beneficiaries of global economic integration, any setback in the process of global economic integration will have a serious impact on their economy.
This time, the energy crisis caused by Ukraine is only the beginning.

I think you chinese celebrate the collapse of the dollars? Why switching side, celebrating the collapse of euros?
Man, think again, the rise of the dollar has much to do with dollar as safe haven. There is war in Ukraine in case you don’t know. Plus, because the US interest rate is higher investors shift money to the US.

 

[MH.Yang]

I think you chinese celebrate the collapse of the dollars? Why switching side, celebrating the collapse of euros?
Man, think again, the rise of the dollar has much to do with dollar as safe haven. There is war in Ukraine in case you don’t know. Plus, because the US interest rate is higher investors shift money to the US.

First, the Chinese do not want to see the euro collapse. The goal of the Chinese govt is a multipolar world and international currency diversification. The collapse of the euro will only make the dollar stronger.

Second, the rise of the dollar is indeed partly due to war. But the main reason is that the US govt raised interest rates significantly. At the beginning of the Ukrainian war, before the US govt raised interest rates, it was CNY, not the US dollar, that appreciated significantly.

Third, the Chinese people will not be happy about the dollar collapse, at least not for the time being. Because we can't find a new global currency to replace the US dollar for the time being. If I destroy the old order before I have the ability to build the new order, it will only lead to the collapse of the global economy. For the Chinese who rely on the development of the global economy, we will also pay a huge price for this.

 

[OIO]

So what?
It's one thing to say that Europe has no technology and another to say who you lead.

Europe still has some traditional advantages in the fields of machinery and materials, but it really fails in new technologies.

 

[FuturePAF]

This is price Europe must pay for not having independent defence and foreign policies, unfortunately.

Also the fact that a lot of their top innovative talent leaves to the US doesn’t help either, entertainment industry talent comes to LA and tech startups end up in Silicon Valley or the other tech clusters.

And now that they have to increase their defense spending as a percentage of GDP, there will probably be cuts to other areas which will lower the standard of living, perpetuating this cycle of brain drain further.

On the other hand, European defense product innovation will speed up, as long as they can also secure sales to historic markets like the GCC. GCC should be getting prepare to demand more ToT to absorb as much tech as possible.

For China, demographics aren’t on their side, but they are catching up in key technologies, at least to the level of European manufacturers in key areas. China is gradually replacing Europe in key markets, it a decline Europe will be a ever smaller market for China.

 

[Viet]

First, the Chinese do not want to see the euro collapse. The goal of the Chinese govt is a multipolar world and international currency diversification. The collapse of the euro will only make the dollar stronger.

Second, the rise of the dollar is indeed partly due to war. But the main reason is that the US govt raised interest rates significantly. At the beginning of the Ukrainian war, before the US govt raised interest rates, it was CNY, not the US dollar, that appreciated significantly.

Third, the Chinese people will not be happy about the dollar collapse, at least not for the time being. Because we can't find a new global currency to replace the US dollar for the time being. If I destroy the old order before I have the ability to build the new order, it will only lead to the collapse of the global economy. For the Chinese who rely on the development of the global economy, we will also pay a huge price for this.

Ok you don’t want the euros to collapse. Also not wanting the dollar to collapse, at least not for the time being. Thank you for your generosity.

You say in one sentence you want to build a multipolar world while wishing other to collapse. Interesting.

What should be the endgame? Using yuan, rubble?

 

[MH.Yang]

Ok you don’t want the euros to collapse. Also not wanting the dollar to collapse, at least not for the time being. Thank you for your generosity.

You say in one sentence you want to build a multipolar world while wishing other to collapse. Interesting.

First of all, the Chinese do not want to use CNY to replace the dollar system, otherwise the Chinese will allow CNY to be freely convertible, rather than strictly controlling the number of offshore CNY. This is because China will not be able to bear the risk of monetary system collapse.

Secondly, it is not only a blessing but also a curse for a currency to become an international currency. Americans can collect taxes by printing dollars, but they must also maintain a huge fleet to protect global trade security. They are also responsible for maintaining global inflation and confidence in the international currency. And once the monetary system collapses, countless overseas currencies will easily destroy their domestic economic system.

Third, China is a major global trading country. China's economic interests and the global trade environment are closely related to stability. However, the repeated economic crises caused by the US dollar show that it is extremely dangerous to maintain the security of the global economy on a currency. China hopes that there are several or even more international currencies in the world to share risks together, which is the most compound interest of China and the most conducive to the security of the world economy.

 

[Viet]

First of all, the Chinese do not want to use CNY to replace the dollar system, otherwise the Chinese will allow CNY to be freely convertible, rather than strictly controlling the number of offshore CNY. This is because China will not be able to bear the risk of monetary system collapse.

Secondly, it is not only a blessing but also a curse for a currency to become an international currency. Americans can collect taxes by printing dollars, but they must also maintain a huge fleet to protect global trade security. They are also responsible for maintaining global inflation and confidence in the international currency. And once the monetary system collapses, countless overseas currencies will easily destroy their domestic economic system.

Third, China is a major global trading country. China's economic interests and the global trade environment are closely related to stability. However, the repeated economic crises caused by the US dollar show that it is extremely dangerous to maintain the security of the global economy on a currency. China hopes that there are several or even more international currencies in the world to share risks together, which is the most compound interest of China and the most conducive to the security of the world economy.

My thought is The yuan will eventually become convertible its not a question of if but when. Ccp doesn’t want it NOW because doing so the bank of China must increase transparency and explain policy makings.

As for multipolar, I don’t know why you focus much on the dollar. Sure, the dollar is numero uno, however there are lots of other major currencies: euros, sterling, Swiss franc, Singapore dollar, Yen. Maybe other more as korea dollar, taiwan dollar.

 

[Akritas]

Europe still has some traditional advantages in the fields of machinery and materials, but it really fails in new technologies.

European industries are unfortunately concentrated in certain sectors such as the automotive industry, the defense industry, alternative energy, aeronautics, the medical industry, etc.
Sectors that were leading 20 years ago such as mobile telephony, televisions, shipbuilding, construction, etc., seem not to interest them and this has to do with economic globalization, which they supported, promoted and will eventually pay the consequences.

 

[MH.Yang]

European industries are unfortunately concentrated in certain sectors such as the automotive industry, the defense industry, alternative energy, aeronautics, the medical industry, etc.
Sectors that were leading 20 years ago such as mobile telephony, televisions, shipbuilding, construction, etc., seem not to interest them and this has to do with economic globalization, which they supported, promoted and will eventually pay the consequences.

Europe is Europe, Germany is Germany.
Europe has indeed fallen behind, but Germany still remains competitive as it should be.
The laziness of Europeans made them lose the advantages accumulated by their ancestors in the colonial era. The French focus on using banks to suck blood from West African countries. The British only care about the financial center of London. Nordic people rely on rich resources. Not to mention other Europeans.
Now only Germany is the only hope in Europe.