Friday, May 15, 2009

Time to Learn Mandarin?

China's yuan 'set to usurp US dollar' as world's reserve currency

The Chinese yuan is preparing to overtake the US dollar as the world's reserve currency, economist Nouriel Roubini has warned. In a column in the New York Times, Prof Roubini warns that with the proposal for a new international reserve currency via the International Monetary Fund, Beijing has already begun to take steps to usurp the greenback.

Posted by alan @ 07:18 PM (855 views)
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4 thoughts on “Time to Learn Mandarin?

  • The Mother of pumping trillions into forex begins then. VOLATILITY? yes please!

    The wild east!

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  • Shrewd lot these Orientals, remember the old Chinese proverb:

    Confucius says, “woman who cooks meat and peas in same pot is very unhygenic”

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  • Enough Already says:

    ‘May you live in interesting times.’ – Ancient Chinese curse.

    Surely, times can’t get much more interesting, can they?

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  • That’s exactly what I am doing. I spent around 600 hours in a classroom learning Mandarin last year. Left UK in 2005 to set up my own factory in China. I have achieved twice the profitability in just 4 years than I did in my previous UK business in 17 years.

    I love the way non-Chinese commentators talk about China being in recession. I thought that a country had to experience 3 quarters of negative growth to be in recession. Journalists seem to think that 6% growth is a recession!!! LOL


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