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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

#121

Post by mieseratte »

moltar wrote: post #120
tenpies wrote: post #104

Earlier quoted context omitted.

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…

Just a reminder that slavery was abolished in 1865, 153 years ago. And recently, lots of laws have been passed restricting freedom. NSA has been watching your every move. The west only has freedom on paper. And countries change and adapt.

> The west only has freedom on paper.

Let me know when they start black-bagging dissidents for speaking up a bit too much.

There are festering problems regarding surveillance in the West, and the prison system is a bit much here in the US, but "freedom on paper" is a load of BS.

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

#122

Post by Noos »

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?

oh FFS, compare that to the cultural revolution, which ended in 1976. the whataboutism here is annoying; while we were debating and agonizing over the impact of the vietnam war, China was busy imprisoning, torturing, and relocating its own citizens over ideology. It created a culture of children informing on their own parents.

I wish people would realize how much they have dodged a bullet by growing up in western nations.

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

#123

Post by prklmn »

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?

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.

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

#124

Post by andai »

mcv wrote: post #115
coldtea wrote: post #92

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. 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 agree that the United States' run as the world's biggest superpower has been far from perfect. I criticise the US a lot. And I actually consider China to be one of the few countries that is not governed by amateurs. China gets a lot of things right. The one big problem, though, is that China does not believe in freedom. At all. Censorship, no free press, no freedoms of opinion, expression, religion, etc. And they s…

The EU is not your friend.

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

#125

Post by phil21 »

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.

Why? These things are not even remotely on the same scale. How are you going to reconcile an event that caused ~20k some odd deaths (recent foreign consul leaks during the time) that was nearly 100% covered up by the government vs. Kent State? That's a bit ridiculous imo.

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

#126

Post by jcranmer »

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...

> 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...

Korea and Vietnam would beg to differ.

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

#127

Post by 2510c39011c5 »

mcv wrote: post #115
coldtea wrote: post #92

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. 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 agree that the United States' run as the world's biggest superpower has been far from perfect. I criticise the US a lot. And I actually consider China to be one of the few countries that is not governed by amateurs. China gets a lot of things right. The one big problem, though, is that China does not believe in freedom. At all. Censorship, no free press, no freedoms of opinion, expression, religion, etc. And they s…

  The one big problem, though, is that China does not believe in freedom
I feel it is not that china doesn’t believe in freedom...it is just that they don’t practice freedom for the time being...but their government always promises future freedom to their people — although that promise may never become true...but the good thing about promising without a specific time is that the promise can always appear to be credible even when one is pushing the day of its realization to the infinity...

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

#128

Post by seanmcdirmid »

makomk wrote: post #111
seanmcdirmid wrote: post #17

Earlier quoted context omitted.

The yuan is not convertible, like the yen, dollar, and euro are. It doesn’t float, it’s exchange rate is set by fiat. When the yuan is actually traded in the wild, then it will move a few steps closer. I don’t think the government will ever let it get stronger than 6 rmb/usd, it would absolutely ruin their exports.

China also imposes heavy capital controls on the ability to move yuan into and out of the country and exchange it for other currencies, which makes it seem like an interesting choice here.

Oh ya, been there done that. Though I imagine they would let other countries hold some yuan with garauntee of conversion.

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

#129

Post by semperdark »

ben_w wrote: post #73
chvid wrote: post #56

Earlier quoted context omitted.

Actually it does - history is full of examples of just that. As the middle class grows in economic terms, it grows in political influence and the overall values of the society changes to accommodate that class. Introduction of democracy and women’s rights in Europe are good examples.

> 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…

Not pedophilia, I hope? Unclear if you mean this century (2000 onwards) or the last hundred years (1918 onwards).

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

#130

Post by Hydraulix989 »

Noos wrote: post #122
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?

oh FFS, compare that to the cultural revolution, which ended in 1976. the whataboutism here is annoying; while we were debating and agonizing over the impact of the vietnam war, China was busy imprisoning, torturing, and relocating its own citizens over ideology. It created a culture of children informing on their own parents. I wish people would realize how much they have dodged a bullet by growing up in western nat…

Not only do they torture them, they harvest their organs (sometimes while they are alive for "freshness"). China is on a whole different level.
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