Friday, October 07, 2005

 

Foreign Banks, Speculators Bet On Chinese Yuan

The BBC reports on who is holding the Chinese currency. "The amount of yuan held by foreign banks has risen significantly, in anticipation of another rise in the value of China's currency. In the past three months, yuan-denominated debt held overseas rose 3.8% to $266bn, according to figures released by the government."

"Levels of short term deb, regarded by economists as a barometer of the likely speculation in a currency, rose 7.9% to $141.3bn. 'The rise in China's short-term foreign debt reflected continued hot money inflows, showing speculation on a further rise in the yuan remains strong, despite the revaluation,' Xiao Minjie, an economist at the Daiwa Institute of Research."

"US Treasury Secretary John Snow is expected to make the case for a further relaxation in the yuan's exchange rate when he visits China later this month. China's trade surplus rose threefold in the first eight months of 2005 to $60bn, more than for the whole of 2004."

Comments:
We work like a horse.
We eat like a pig.
We like to play chicken.
You can get someone's goat.
We can be as slippery as a snake.
We get dog tired.
We can be as quiet as a mouse.
We can be as quick as a cat.
Some of us are as strong as an ox.
People try to buffalo others.
Some are as ugly as a toad.
We can be as gentle as a lamb.
Sometimes we are as happy as a lark.
Some of us drink like a fish.
We can be as proud as a peacock.
A few of us are as hairy as a gorilla.
You can get a frog in your throat.
We can be a lone wolf.
But I'm having a whale of a time!

You have a riveting web log
and undoubtedly must have
atypical & quiescent potential
for your intended readership.
May I suggest that you do
everything in your power to
honor your encyclopedic/omniscient
Designer/Architect as well
as your revering audience.
As soon as we acknowledge
this Supreme Designer/Architect,
Who has erected the beauteous
fabric of the universe, our minds
must necessarily be ravished with
wonder at this infinate goodness,
wisdom and power.


Please remember to never
restrict anyone's opportunities
for ascertaining uninterrupted
existence for their quintessence.

There is a time for everything,
a season for every activity
under heaven. A time to be
born and a time to die. A
time to plant and a time to
harvest. A time to kill and
a time to heal. A time to
tear down and a time to
rebuild. A time to cry and
a time to laugh. A time to
grieve and a time to dance.
A time to scatter stones
and a time to gather stones.
A time to embrace and a
time to turn away. A time to
search and a time to lose.
A time to keep and a time to
throw away. A time to tear
and a time to mend. A time
to be quiet and a time to
speak up. A time to love
and a time to hate. A time
for war and a time for peace.


Best wishes for continued ascendancy,
Dr. Howdy

'Thought & Humor'

P.S. One thing of which I am sure is
that the common culture of my youth
is gone for good. It was hollowed out
by the rise of ethnic "identity politics,"
then splintered beyond hope of repair
by the emergence of the web-based
technologies that so maximized and
facilitated cultural choice as to make
the broad-based offerings of the old
mass media look bland and unchallenging
by comparison."

 
I'm not sure how this plays. China is inordinately dependent upon us consuming. If you take out the USA, or even make equal trade between the 2 countries, China would run a trade deficit.

As our day of reckoning approach's for Americas credit crunch, and we learn it's "Not Different this Time". The Juan may flounder not because of the currency basket, but from the reduced exports.

But I'm no expert...fun to watch though.......p
 
ROFL I said JUAN not YUAN....think thats a Freudian slip. Working in SoCal my Spanglish gets better all the time, DOH.
 
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