| Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum. |
 | 
03-31-2009, 04:12 PM
|
#1 | | The RS Anchorman
Join Date: May 2003 Location: Comics
Posts: 2,059
Thanked 49 Times in 22 Posts
Failed 21 Times in 8 Posts
| China and Argentina in $10bn deal
China and Argentina have made a tentative agreement to swap $10bn (£7bn) worth of their currencies.
The move, which allows both countries to bypass the US dollar, makes it easier for Argentine businesses to buy Chinese imports directly in yuan.
It also gives Argentina hard cash at a time when its finances have been hurt by the global financial crisis.
The deal comes after China suggested that the world should create a new reserve currency to replace the dollar.
The swap is being seen as a sign of China's ambitions in South America.
China primarily imports agricultural products from Argentina, while the South American nation buys Chinese electronic goods.
In the past, China has signed similar deals with South Korea, Malaysia, Belarus and Indonesia. http://news.bbc.co.uk/2/hi/business/7973541.stm | 
|  | |
03-31-2009, 05:49 PM
|
#2 | | Banned (ABWS)
Join Date: Apr 2008 Location: vancouver
Posts: 3,303
Thanked 1,107 Times in 271 Posts
Failed 66 Times in 25 Posts
|
Wait? So Argentina changed its currency to the Chinese Yuan?
| |
| | |
03-31-2009, 06:20 PM
|
#3 | | Raping Captured Dolphins since 2002 on EZ board days
Join Date: Jul 2002 Location: Hong Kong
Posts: 6,251
Thanked 658 Times in 191 Posts
Failed 78 Times in 45 Posts
| Quote:
Originally Posted by KingDeeCee  Wait? So Argentina changed its currency to the Chinese Yuan? | No, it just means instead of using the Peso to change to USD to buy Chinese products, it will directly use RMB instead, and vica versa.
__________________ Quote:
Originally Posted by asian_XL apparently, freedom of speech does not exist on RS
| Quote:
Originally Posted by Alphamale I give a lot of people rim jobs. | My Feedback | |
| | |
03-31-2009, 06:23 PM
|
#4 | | Banned (ABWS)
Join Date: Jun 2007 Location: na
Posts: 656
Thanked 25 Times in 16 Posts
Failed 4 Times in 4 Posts
| Quote:
Originally Posted by KingDeeCee Wait? So Argentina changed its currency to the Chinese Yuan? | no, theyve agreed to settle up to 10 billion of trade using eachothers currency, instead of going through us dollars.
its all part of china's plan to ease dependence on the usd. theyve also signed deals with indonesia, malaysia and korea, part of their ambition to become the de facto regional currency. eventually they'll be able to free float the yuan too.
| |
| | |
04-03-2009, 12:55 PM
|
#5 | | I bringith the lowerballerith
Join Date: Oct 2001 Location: Yaletown Snob
Posts: 1,119
Thanked 53 Times in 27 Posts
Failed 22 Times in 4 Posts
| Quote:
Originally Posted by Synaptik no, theyve agreed to settle up to 10 billion of trade using eachothers currency, instead of going through us dollars.
its all part of china's plan to ease dependence on the usd. theyve also signed deals with indonesia, malaysia and korea, part of their ambition to become the de facto regional currency. eventually they'll be able to free float the yuan too. | What does "free float the yuan" mean?
| |
| | |
04-03-2009, 01:06 PM
|
#6 | | The Lone Wanderator
Join Date: Mar 2001 Location: Burnaby
Posts: 12,091
Thanked 4,385 Times in 1,138 Posts
Failed 192 Times in 75 Posts
|
Right now, the Yuan is basically tied to the value of the USD. When the value of the USD goes up or down, the Yuan goes up proportionally. Free-floating the Yuan means that the Yuan is calculated independently of the USD, with all of the risks and potential benefits that provides. http://en.wikipedia.org/wiki/Floating_exchange_rate | |
| | |
04-04-2009, 03:54 PM
|
#7 | | I contribute to threads in the offtopic forum
Join Date: Dec 2003 Location: Vancouver
Posts: 2,629
Thanked 273 Times in 90 Posts
Failed 62 Times in 32 Posts
|
And China becomes one step closer to becoming a superpower and/or taking over the world..
| |
| | |
04-05-2009, 04:37 AM
|
#8 | | Even when im right, revscene.net is still right!
Join Date: Oct 2005 Location: vancouver
Posts: 1,323
Thanked 225 Times in 62 Posts
Failed 85 Times in 35 Posts
| Quote:
Originally Posted by slammer111 And China becomes one step closer to becoming a superpower and/or taking over the world.. | China IS a superpower  | |
| | |
04-05-2009, 09:20 AM
|
#9 | | Proud to be called a RS Regular!
Join Date: Oct 2008 Location: van
Posts: 131
Thanked 5 Times in 4 Posts
Failed 13 Times in 5 Posts
|
China doesn't need to take over the world..it has no interests in doing that, unlike the US.
the core of chinese philosophy is harmony. War is frawned upon and Chinese has never started a war with the west.
| |
| | |
04-05-2009, 12:55 PM
|
#10 | | My homepage has been set to RS
Join Date: Apr 2004 Location: Vancouver
Posts: 2,314
Thanked 1,463 Times in 577 Posts
Failed 40 Times in 21 Posts
| Quote:
Originally Posted by DDauge China doesn't need to take over the world..it has no interests in doing that, unlike the US.
the core of chinese philosophy is harmony. War is frawned upon and Chinese has never started a war with the west. | One could always argue that taking over the world is a path to "harmony".
| |
| | |
04-05-2009, 02:12 PM
|
#11 | | ESKETIT
Join Date: Feb 2004 Location: Shambhala
Posts: 23,366
Thanked 9,698 Times in 2,328 Posts
Failed 998 Times in 241 Posts
|
GG
| |
| | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 04:58 PM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
