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Europe’s central banks are starting to replace dollar reserves with the yuan

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Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#101

Post by smaddox »

coldtea wrote: post #92
ben_w wrote: post #40

Earlier quoted context omitted.

Religious persecution doesn’t disappear just because of economic growth. Neither does discrimination against sexual preferences (+). That’s the fear expressed above. (+) unless you limit your knowledge of sexual preferences to just gay/straight — human sexuality is much more complicated than that.

> Religious persecution doesn’t disappear just because of economic growth. Neither does discrimination against sexual preferences (+). That’s the fear expressed above. The hypocrisy of a country that props constant wars all around the globe, has bombed/invaded 3-4 countries in the last 20 years alone, and constant meddling and manipulations of other governments for its "interests", that had segregation up to the 70s,…

That would be hypocrisy... if a county could critisize. However, a citizen of such a country can critisize both countries without being a hypocrite.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#102

Post by mattmanser »

endisukaj wrote: post #37
tanilama wrote: post #27

Earlier quoted context omitted.

Trump is definitely an issue. His talk about abandoning NATO, ridiculing EU to drive his own argument for domestic issues, makes him pretty hard to be likable from EU establishments' perspectives. On the least insignificant level, the message is pretty clear: US is destabilizing, and Trump might only be the beginning of it. With a isolationist and hostile US government, EU naturally would seek another anchor for safe…

In the end, the EU needs to do what it must to survive and that IMO means federalize. A united EU would not need an anchor for safety.

Which is a political goal at odds with the population.

Even Macron admitted that if the French were given the same vote as the British, they'd probably leave the EU[1].

Their tactic? Just avoid a vote. A small elite closing ranks and ignoring that EU citizens simply want trade union, not political union.

There's only so many times politicians can say "it's more complicated than you peasants understand, we must federalize!" before they get kicked out. Their hubris is bringing about the rise of the extreme right.

Europeans, as in the general populace, do not as a majority want to federalize. Federalization is one of those open conspiracies driven by a particular type of person who's completely out-of-touch with normal people.

[1]https://www.theguardian.com/world/2018/jan/21/emmanuel-macro...

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#103

Post by ben_w »

coldtea wrote: post #94
ben_w wrote: post #73

Earlier quoted context omitted.

> Introduction of democracy and women’s rights in Europe are good examples. Which is why I said “religious” and “sexual preference”. Jews were widely discriminated against even a few years after WW2; Muslims are a current whipping-boy; I’m not sure if Catholic-vs-Protestant is as big a divide in Northern Ireland as it looks from the outside, but it does look big; In the USA, Atheists are almost as disliked as Muslims…

Well, if the biggest problem is some bizarro religions and BSDM are frowned upon / deemed illegal so be it

5-10% of the population are “into” BDSM, although sex surveys are notorious for underestimating things. Atheism is a curious thing to call a “bizarro religion”; likwise for different reasons Islam, given the latter has ~1.8 billion followers worldwide.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#104

Post by tenpies »

herbst wrote: post #85
clacke2 wrote: post #21

Earlier quoted context omitted.

1. China is gaining in relevance. 2. People don't understand that they should worry about this.

Why is this particularly a reason to worry? I for one welcome a well needed fresh wind in our global ecosystem.

Because as much as people love to hate on the West and its faults, it is also the most tolerant system and allows for the most freedom in every category.

The Chinese do not value things like freedom or tolerance very much, especially if they conflict with order. The value of the individual is also extremely low, whereas the West held the individual as the most valuable thing until just recently when group identities became incredibly important for the sake of skin-deep diversity. It will be interesting to see how that continues to creep into Western culture.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#105

Post by dash2 »

coldtea wrote: post #89
iforgotpassword wrote: post #86

Earlier quoted context omitted.

Ah yes, a topic about China and the top comment is some American spreading the usual fud about how China is the pure evil, like it has been engrained into their brains from the day they were born. Sad to see hn is no better than reddit these days.

Especially since throughout the 20th and 21st century, it wasn't China who was a constant global cop/aggressor, invading countries, spreading "democracy", meddling in Latin America, Asia, Middle East AND Europe, and so on...

China did not have the power before. Who knows how it will act when it does? It's treatment of Tibet, invaded in 1948 and still occupied, is not encouraging.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#106

Post by ben_w »

coldtea wrote: post #92
ben_w wrote: post #40

Earlier quoted context omitted.

Religious persecution doesn’t disappear just because of economic growth. Neither does discrimination against sexual preferences (+). That’s the fear expressed above. (+) unless you limit your knowledge of sexual preferences to just gay/straight — human sexuality is much more complicated than that.

> Religious persecution doesn’t disappear just because of economic growth. Neither does discrimination against sexual preferences (+). That’s the fear expressed above. The hypocrisy of a country that props constant wars all around the globe, has bombed/invaded 3-4 countries in the last 20 years alone, and constant meddling and manipulations of other governments for its "interests", that had segregation up to the 70s,…

I am not an American.

I am criticising American states for criminalising a sexuality that my own country never legalised.

I am also appalled by my own country’s behaviour in the colonial era.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#107

Post by dingaling »

kuschku wrote: post #69
orf wrote: post #65

Earlier quoted context omitted.

How would you propose this is done? A ballot across all countries would fail. No ballot would be undemocratic.

Start with informing the public, until a ballot would succeed? Most of the people being against the EU are against it because they only ever hear the bad sides? They never realize that most of the bad things "the EU" did were actually things the council did. Which actually just means that the heads of states of all EU nations agreed on it. If you end the EU, all power goes to these negotiations, and you'll only see t…

> Start off with replacing this propaganda

It sounds like you just want to substitute another set of propaganda .

Many people were quite happy to establish a European Common Market.

Few had a direct input to moving that to Union.

So first you'd need to turn the clock back 40 years and explain why anything deeper than a market is necessary.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#108

Post by dash2 »

akhatri_aus wrote: post #60
kylell wrote: post #6

this is also an effect of US isolationism and America first rhetoric which also means abandoning other states, eg. Ukraine, when the US loses its influence/importance so does the dollar, meaning you can't print like crazy and export your inflation in the world.

> export your inflation in the world Which country has the US exported its inflation to? Venezuela? Apologies for the tongue-in-cheek but even an economist would not be able to reconcile why there isn't really any inflation amongst the major economies.

Actually economists do believe the US gains leverage to print money from the dollar's status as the world reserve currency. The key phrase is "exorbitant privilege", from a phrase coined by Valery Giscard D'Estaing in the 1960s, and there is a book of the same name by Barry Eichengreen. It's true that this hasn't been used because independent central banks have been restrained since the 1980s. But in general it's still true that US monetary policy has a huge effect on the rest of the world. For example, the Latin American debt crisis of 1980s was linked to the tight monetary policy of Paul Volcker.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#109

Post by dogma1138 »

NicoJuicy wrote: post #82
dogma1138 wrote: post #75

Earlier quoted context omitted.

The GDP of Europe is irrelevant for this scenario the monetary relationship between the dolllar and the yuan isn’t like most currencies. Until 2005 it was pegged to the dollar completely since then it’s effectively pegged to the rate at which China buys dollar bonds.

Do you have a source or reference where i can get a deeper information/knowledge about the relationship between the dollar, yuan and bonds?

This isn't something that can be put into a single paragraph, the top 3 results from Google seem to provide decent sources of information

https://www.thebalance.com/dollar-to-yuan-conversion-and-his...

https://www.thebalance.com/how-does-china-influence-the-u-s-...

https://www.cluteinstitute.com/ojs/index.php/IBER/article/do...

However I haven't read them thoroughly, so I suggest you invest some time in doing some research.

P.S. I really hate this source/citation discourse that is effectively taken over every debate on the internet opinions can be constructed out of vast amounts of information and experience and even casual observations tend to be the product of much more information that can be distilled into bit size pieces.

Just do research and learn, stay away from wikipedia and go for academic and sources and don't shy from even biased opinion pieces as those tend to be some of the most valuable as they expose you to concrete positions and being wrong or right does not change their value.

Re: Europe’s central banks are starting to replace dollar reserves with the yuan

#110

Post by dctoedt »

coldtea wrote: post #93
chvid wrote: post #88

Earlier quoted context omitted.

Maybe. But china’s overall path is towards more democracy and civil liberty. Compare tianamen square 30 years ago with the handling of the Hong Kong protests.

Or, maybe, compare Tianamen square with Kent state, the Chicago '68 democratic convention, and so on.

After both Chicago '68 and the Kent State shooting, there was immediate, extensive blowback in the American press and public. Quite the opposite happened in China after Tiananmen Square.

(Of course, all of the above were decades ago, so we need to keep an open mind about the condition today in the respective countries.)

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