The Chinese Yuan has overtaken the Euro

[ckaihatsu]

Venture Capital - How Chinese Yuan has overtaken Euro (E19)

http://www.youtube.com/watch?v=ytFq_M5jYSY

[tuwix]

And its will overtake a dollar probably.

But question is: what will happen then? How will look like Chinesse imperialism? Now, it's pretty mild. Chinese army doesn't intervene to maintain their investments intact. But who knows how they will behave when they will have the strongest economy of the world? Maybe they will start to do it? Maybe they will start their own standards of government (censorship of internet an everything else)? Or maybe not?

[Danielle Ni Dhighe]

One capitalist currency overtook another? *shrug*

[servusmoderni]

And its will overtake a dollar probably.

But question is: what will happen then? How will look like Chinesse imperialism? Now, it's pretty mild. Chinese army doesn't intervene to maintain their investments intact. But who knows how they will behave when they will have the strongest economy of the world? Maybe they will start to do it? Maybe they will start their own standards of government (censorship of internet an everything else)? Or maybe not?

Every time something menaces the Dollar, the U.S. intervenes. Gaddafi wanted to change the currency of oil and switch it to something called Dinar. And few months later, terrorists were out of the street to kill him. Same with Iraq, when they wanted to drop the Dollar, the U.S. invaded.
Unfortunately, I predict a war.

Since, It'll be wars between two nuclear powers. I think there's a chance we might all end like people in a giant microwave.

[Bolshevik Sickle]

So isn't China's success proof that communism works?

[Danielle Ni Dhighe]

So isn't China's success proof that communism works?
Um, no. In what way is China communist?

[Raterepublik]

So isn't China's success proof that communism works?

More like proof that state capitalism works...unfortunately

[Red Commissar]

Every time something menaces the Dollar, the U.S. intervenes. Gaddafi wanted to change the currency of oil and switch it to something called Dinar. And few months later, terrorists were out of the street to kill him. Same with Iraq, when they wanted to drop the Dollar, the U.S. invaded.
Unfortunately, I predict a war.

Since, It'll be wars between two nuclear powers. I think there's a chance we might all end like people in a giant microwave.

... I don't really think things like the Iraq War or US involvement in Syria was as simple as the matter of petrodollars. While Iraq's use of euros was changed back to dollars after the war, they probably would've gone about it a much different way if this was only a matter of petrodollars.

[Hrafn]

I for one welcome our new capitalist Asian overlords.

[Prof. Oblivion]

This is only talking about trade finance, which in reality isn't that big of a deal. SWIFT says the Yuan is 12th in traded currencies, which would be even less if traded securities were considered.

Nothing to see here.

[ckaihatsu]

Every time something menaces the Dollar, the U.S. intervenes. Gaddafi wanted to change the currency of oil and switch it to something called Dinar. And few months later, terrorists were out of the street to kill him. Same with Iraq, when they wanted to drop the Dollar, the U.S. invaded.


Yup, I agree with this part -- thanks.

[servusmoderni]

... I don't really think things like the Iraq War or US involvement in Syria was as simple as the matter of petrodollars. While Iraq's use of euros was changed back to dollars after the war, they probably would've gone about it a much different way if this was only a matter of petrodollars.

Well, without petrodollar, the united states dies.

[Sea]

So isn't China's success proof that communism works?Yes. Yes it is, tovarisch. :hammersickle:

[IBleedRed]

And its will overtake a dollar probably.

But question is: what will happen then? How will look like Chinesse imperialism? Now, it's pretty mild. Chinese army doesn't intervene to maintain their investments intact. But who knows how they will behave when they will have the strongest economy of the world? Maybe they will start to do it? Maybe they will start their own standards of government (censorship of internet an everything else)? Or maybe not?

China is, without a doubt, a capitalist power. But, I don't think a future China-dominated world will see nearly as much intervention by the big superpower as the US-dominated world has. To my knowledge, China has not really waged an offensive war in very many years. Chinese cultural values favor cool, levelheaded thinking when it comes to international affairs: "See who wins, and trade with them."

[cyu]

More like proof that state capitalism works...unfortunately


Slavery works for plantation owners. Slavery does not work for the slaves.

American "democracy" works for capitalists. American "democracy" does not work for the poor.

Chinese "communism" works for those in power. Chinese "communism" does not work for those not in power.

[Sabot Cat]

It is my belief or hope that if China becomes an unparalleled economic force in the world, with more wealth than the United States at some future point, the "primary stage of socialism" rhetoric that's been used to justify state capitalism will be met with orthodox Marxist challenges among reformers within the PRC, who may become more discontent with the massive gulfs in the income of rich and poor, as well as the equally large chasm between theory and fact. They may do this so that they can have a traditional justification in performing the groundbreaking changes in the way the country is governed that are necessary for its long-term stability.

[Prof. Oblivion]

Again, this is just for trade finance (http://en.wikipedia.org/wiki/Trade_finance), i.e. the financing of trade transactions. It makes sense given China's position as a leading exporter. This says absolutely nothing of the status/power of the USD internationally or the "rise of China".