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chungbukdo
Joined: 22 Aug 2010
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 Posted: Tue Apr 12, 2011 6:15 am Post subject: |
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| rollo wrote: |
| they own about 1.8 trillion in U.S. bonds not enough to bankrupt the U.S. |
If China starts selling its US treasury bills who is gonna buy them from the treasury at the next auction? Nobody, which means the US will have to dramatically increase interest rates to service the debt, or more likely, start monetizing the debt through the Federal Reserve.
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If the Chinese economy does not blow up , this year inflation in the middle kingdom is about 20% and headed higher. .
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Exactly why they should allow the RMB to rise instead of floating it with the USD. When the RMB rise becomes more steep, watch as the Chinese can suddenly afford the products they produce because of having a strong currency, and watch the cost of living rise dramatically in the USA as all consumer items are produced in China. A rising RMB relative to US dollar would mean higher costing Chinese consumer goods for Americans. |
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Radius
Joined: 20 Dec 2009
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| Posted: Tue Apr 12, 2011 6:38 am Post subject: |
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^^^^
We're going to have a one world currency in the near future anyway. It doesn't matter.  |
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ESL Milk "Everyday
Joined: 12 Sep 2007
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| Posted: Tue Apr 12, 2011 6:54 am Post subject: |
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| I hope that it dies out and puts everyone in it out of their obvious misery. |
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some waygug-in
Joined: 25 Jan 2003
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| Posted: Tue Apr 12, 2011 10:40 am Post subject: |
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| chungbukdo wrote: |
| rollo wrote: |
| they own about 1.8 trillion in U.S. bonds not enough to bankrupt the U.S. |
If China starts selling its US treasury bills who is gonna buy them from the treasury at the next auction? Nobody, which means the US will have to dramatically increase interest rates to service the debt, or more likely, start monetizing the debt through the Federal Reserve.
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If the Chinese economy does not blow up , this year inflation in the middle kingdom is about 20% and headed higher. .
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Exactly why they should allow the RMB to rise instead of floating it with the USD. When the RMB rise becomes more steep, watch as the Chinese can suddenly afford the products they produce because of having a strong currency, and watch the cost of living rise dramatically in the USA as all consumer items are produced in China. A rising RMB relative to US dollar would mean higher costing Chinese consumer goods for Americans. |
Of course this would also mean China would have a much harder time selling those goods to the US and the rest of the world for that matter.
Not to mention, some of those sweat shop jobs would move to India and other SE Asian areas. (theoretically of course) |
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chungbukdo
Joined: 22 Aug 2010
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| Posted: Tue Apr 12, 2011 4:39 pm Post subject: |
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| So are you saying that it will be bad for china to start consuming all the goods they make and improve their standard of living? Should they keep on being forced to work all day to trade their products for useless t bills? |
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Ramen
Joined: 15 Apr 2008
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| Posted: Tue Apr 12, 2011 4:43 pm Post subject: |
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| chungbukdo wrote: |
| So are you saying that it will be bad for china to start consuming all the goods they make and improve their standard of living? Should they keep on being forced to work all day to trade their products for useless t bills? |
yes. chinese government think so.  |
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naturegirl321
Joined: 18 Jul 2006
Location: Home sweet home
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| Posted: Tue Apr 12, 2011 7:23 pm Post subject: |
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| Salaries are already less than they were years ago when you factor in exchange rates and inflation. teachers will be seeking out greener pastures like Vietnam, Thailand, or China, where their money will go further. |
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Juregen
Joined: 30 May 2006
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| Posted: Tue Apr 12, 2011 7:45 pm Post subject: |
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| naturegirl321 wrote: |
| Salaries are already less than they were years ago when you factor in exchange rates and inflation. teachers will be seeking out greener pastures like Vietnam, Thailand, or China, where their money will go further. |
I love it when people are so wise and have such insight in the global workings of Supply and Demand. |
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naturegirl321
Joined: 18 Jul 2006
Location: Home sweet home
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| Posted: Tue Apr 12, 2011 8:30 pm Post subject: |
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| Juregen wrote: |
| naturegirl321 wrote: |
| Salaries are already less than they were years ago when you factor in exchange rates and inflation. teachers will be seeking out greener pastures like Vietnam, Thailand, or China, where their money will go further. |
I love it when people are so wise and have such insight in the global workings of Supply and Demand. |
Look at the forums here and the intl forums. There are plenty of people who left Korea and went to work in other Asian countries  |
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chungbukdo
Joined: 22 Aug 2010
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| Posted: Wed Apr 13, 2011 1:46 am Post subject: |
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| Not sure about Thailand, but Vietnam and China are experiencing inflation and probably a greater degree of it than we are here. |
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NohopeSeriously
Joined: 17 Jan 2011
Location: The Christian Right-Wing Educational Republic of Korea
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| Posted: Wed Apr 13, 2011 1:54 am Post subject: |
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| I'll be honest. Advanced English language education in Korea is forever a national TOEFL orgy. |
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shostahoosier
Joined: 14 Apr 2009
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| Posted: Wed Apr 13, 2011 2:33 am Post subject: |
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| Juregen wrote: |
| naturegirl321 wrote: |
| Salaries are already less than they were years ago when you factor in exchange rates and inflation. teachers will be seeking out greener pastures like Vietnam, Thailand, or China, where their money will go further. |
I love it when people are so wise and have such insight in the global workings of Supply and Demand. |
I love it when people criticize someone's post without offering their own correct, expert opinion.
Im not saying she is right or wrong, but if you disagree with someone, then say why. |
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Imperial
Joined: 15 May 2010
Location: Moonside
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| Posted: Wed Apr 13, 2011 3:18 am Post subject: |
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I doubt that English will be replaced as an international language any time soon.
The Chinese don't even understand themselves let alone anyone else.
Also, contend with the fact that India's lingua franca is English ( because we have 15 dialects and can't understand each other..) and I believe Brazil uses it for international purposes as well.
It will probably be like it was in the 80s at best English + Mandarin being the optimal condition. |
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NohopeSeriously
Joined: 17 Jan 2011
Location: The Christian Right-Wing Educational Republic of Korea
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| Posted: Wed Apr 13, 2011 3:49 am Post subject: |
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I will still bet on Mandarin. My Korean relatives are running a Mandarin hagwon to my surprise. One is working in Russia and speaks fluent Russian. So yeah, their children are fine without English.  |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Wed Apr 13, 2011 5:31 am Post subject: |
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| Imperial wrote: |
I doubt that English will be replaced as an international language any time soon.
The Chinese don't even understand themselves let alone anyone else.
Also, contend with the fact that India's lingua franca is English ( because we have 15 dialects and can't understand each other..) and I believe Brazil uses it for international purposes as well.
It will probably be like it was in the 80s at best English + Mandarin being the optimal condition. |
Chinese isn't going to be the international language. People like to think that English is the international language because America became an economic power. But why was it that they spoke English in the first place? England paved the way for English to be the language of choice.
And English is the internatioanl language because multiple countries speak English, not just America.
China is just one country. And as someone else mentioned, they can't even speak to each other in their "national language". Plus, China itself is invested in EFL. Not sure if you're aware of it, but English cram schools are big business in China, too. Are they just going to throw away that source of revenue?
And what about European countries? Are they all going to switch over to Chinese just because China wills it? We might forget this from being in Asia, but those European nations can actually speak English.
Lastly, and perhaps most importantly, we native speakers of English are in the minority of English speakers in the world. People who speak English as a second/foreign language are using English to speak with other people who speak ESL/EFL...not to cowtow to us. |
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