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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

#221

Post by agumonkey »

ksec wrote: post #80
xir78 wrote: post #3

A few years ago I couldn’t tell you the name of a Chinese company off the top of my head, now I can not only rattle of a list, they’re companies I’ve worked with or have significant investments in companies in the US. I also have a roster of WeChat contacts. I also work with multiple ex-pats that fled fearing for their life due to persecution based on their religion (Falung Gong), and laugh at how freaked people are…

>about an insignificant Trump compared to a truly vicious government Which is true. But most US citizen doesn't realize how their system, while extremely bureaucratic in nature, protect real bad things from happening. There both have upside and downside. Only History will tell.

I dearly thought he bureaucratic system would have ejected current president though. It didn't protect much IMO.

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

#222

Post by learc83 »

rypskar wrote: post #76
sarchertech wrote: post #46

Earlier quoted context omitted.

You've not mentioned where you're from. You're on an American site, and you talked about Brexit, so I assumed British or American. >English used to be the most important language, these days it’s German and Chinese I'm having a very hard time thinking of a country where both German and Chinese are more important than English. Where is this?

>You're on an American site No, that isn't really how the internet works. The site is owned by an American company, but HN is an international site with visitors from all around the world

>but HN is an international site with visitors from all around the world

It's site that focuses specifically on the startup culture centered around SV. The site if full of American idioms, cultural norms, and people regularly discuss American politics and the American regulatory environment. There are far more people living in America participating than otherwise. In most cases the default behavior is to speak about American issues without prefacing with "this is about America."

There's clearly nothing wrong with speaking about non-American issues, but if you don't specify, most of us are going to assume you're talking about America.

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

#223

Post by learc83 »

netheril96 wrote: post #79
learc83 wrote: post #54

Earlier quoted context omitted.

10k? If I'm remembering correctly even educated Chinese people don't know that many. I'm also unaware of research showing that Chinese is comparatively better absorbed when young.

Every language is easier to learn when you are young, especially before five years young.

Yes. I said comparatively easier.

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

#224

Post by jonathanyc »

PietdeVries wrote: post #216
adventured wrote: post #203

Earlier quoted context omitted.

> It's not a good sign for the US Ideally the rest of the developing world grows far richer than they are today, which gives the US (and everybody else) more lucrative trading partners. Countries like: Vietnam, Indonesia, Brazil, Colombia, India, Nigeria. Even present mid-tier nations like Estonia, Czech, Slovakia, etc you want to see them go on to become the next Austrias and Denmarks. It's all very beneficial to th…

Well, if wealth is spread more evenly around the globe, this will indeed be good. Less unrest, less war, less refugees. Not sure if it's beneficial for the US as well though - the money flowing to Vietnam/Slovakia/Nigeria, etc has to come from someone...

No, otherwise the world would have the same aggregate welfare as it did in the 18th century (or some arbitrary time in the past). The idea of this being some zero-sum game is not only naive but dangerous.

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

#225

Post by Chaebixi »

anc84 wrote: post #100
ksec wrote: post #80

Earlier quoted context omitted.

>about an insignificant Trump compared to a truly vicious government Which is true. But most US citizen doesn't realize how their system, while extremely bureaucratic in nature, protect real bad things from happening. There both have upside and downside. Only History will tell.

* causes real bad things to happen Fixed that for you. Do I need to get the CIA and various wars lists from Wikipedia?

> Fixed that for you. Do I need to get the CIA and various wars lists from Wikipedia?

Please, do tell me of the CIA's murderous and oppressive domestic activities since 1950 [1], and how they have been of a comparable magnitude to China's.

[1] The PRC was founded in 1949, so this time period is to make it comparable.

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

#226

Post by [deleted] »

cryptonector wrote: post #198
slivym wrote: post #78

Earlier quoted context omitted.

This is kind of ridiculous. The purpose of reserves is not to send political messages. It's to provide a mechanism to manage monetary policy and it does that through buying back its liabilities. To do this effectively you must hold a strong currency as your reserve- there's no point holding Zimbabwe dollars. So any reasonable reserves for a European country today will be part Dollar, Pound, Yen and Yuan. How much of…

> It's not a good sign for the US, but... Why isn't it good for the U.S. that the rest of the world get wealthier? Of course it is.

[deleted]

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

#227

Post by emodendroket »

swarnie_ wrote: post #210
PietdeVries wrote: post #208

Earlier quoted context omitted.

Exports of what? iPhones? These are all made in China, and with the dollar dropping against the Yuan, anything the US imports from China (and also from Europe) will be getting more expensive. And with the dollar dropping, bonds in dollars will be less interesting for investors. Basically, the article suggests that where Trump is aiming to MAGA, the entire opposite seems to happen: the rest of the world accellerates w…

Do you make any cars which are viable in Europe?

I'm not sure who "you" is here but, yes, lots of American cars are sold in Europe.

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

#228

Post by emodendroket »

prklmn wrote: post #123
anc84 wrote: post #100

Earlier quoted context omitted.

* causes real bad things to happen Fixed that for you. Do I need to get the CIA and various wars lists from Wikipedia?

It’s pretty easy to argue that the CIA is the antithesis of American idealism - unelected bureaucrats doing jobs that the public has no power to hold them accountable for.

Well in that case I guess American idealism has little to do with post-war American foreign policy.

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

#229

Post by emodendroket »

mc32 wrote: post #7

I like Japan --I think for a mid-sized country they have done well for themselves... but their representation in foreign reserves is a bit outsized. The Yuan, given China's economic strength, has nowhere to go but up. We'll have to see how European Central banks like that in 10-20 years when they exert more influence on policy.

> I like Japan --I think for a mid-sized country they have done well for themselves... but their representation in foreign reserves is a bit outsized.

They were the world's second-largest economy until a few years ago, were they not?

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

#230

Post by emodendroket »

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.

"Abandoning" Ukraine (a funny way of describing sending them a ton of weapons) has little to do with it.
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