A local newspaper recently reportd that RMB is very popular in SE Asia because it is very stable against the local currencies.  Unfortunately the Chinese gov. restricts individuals to take out/in RMB to the limit of 2000Yuans.  Some people smuggle RMB out to the SE Asia countries. It is time to abandon this restriction and someday RMB will be the local official currency in Indonesia, Vietnam, Thailand, Malaysia, and the Philippines, just like the US$ is the local trustable currency to the Russian citizens today. For every 100 US$ printed,  more than 60$ go abroad and never flow back to the US.  It means that we American enjoys that extra 60$'s import goods without really paying a cent for it.   The US has a deficit of $5 trillion and no one is worried about it.  According to this evening's NBR of PBS, the Fed printed extra $14 B last week(?) - I mean the M2 money supply.    Most of those newly printed paper bills will go to Russia, Asia, and S. Am.  We are very luck to be the US citizen to enjoy this free lunch and the rest of the world are working like a slave paying for our free lunch.    I just bought a nice tool box with more than 100 ps of Chinese made tools in it for $29 from KMart.  The same stuff would cost me more than $200 from Sears years ago. It is time for the Chinese to enjoy such prvilege that usually only reserved for the US.  The European is working hard to make euro the world currency.

because it is very stable against the local currencies.  Unfortunately the Chinese gov. restricts individuals to take out/in RMB to the limit of 2000Yuans.  Some people smuggle RMB out to the SE Asia countries. It is time to abandon this restriction and someday RMB will be the local official currency in Indonesia, Vietnam, Thailand, Malaysia, and the Philippines, just like the US$ is the local trustable currency to the Russian citizens today. For every 100 US$ printed,  more than 60$ go abroad and never flow back to the US.  It means that we American enjoys that extra 60$'s import goods without really paying a cent for it.   The US has a deficit of $5 trillion and no one is worried about it.  According to this evening's NBR of PBS, the Fed printed extra $14 B last week(?) - I mean the M2 money supply.    Most of those newly printed paper bills will go to Russia, Asia, and S. Am.  We are very luck to be the US citizen to enjoy this free lunch and the rest of the world are working like a slave paying for our free lunch.    I just bought a nice tool box with more than 100 ps of Chinese made tools in it for $29 from KMart.  The same stuff would cost me more than $200 from Sears years ago. It is time for the Chinese to enjoy such prvilege that usually only reserved for the US.  The European is working hard to make euro the world currency. Are you aware that RMB is relatively low-tech and so easy to counterfeit?  Any world-class paper currency must first have an overhaul of its design just to keep up with the advances in counterfeiting.  Any non-world-class paper currency will face this growing problem, sooner or later.  It took the U.S. years to design its current series of anti-counterfeiting new bills that are just being issued.

Let's try it with Hong Kong first. Then ... Echen2 < This e-mail address is being protected from spam bots, you need JavaScript enabled to view it wrote in article < This e-mail address is being protected from spam bots, you need JavaScript enabled to view it | ... | It is time to abandon this restriction and someday RMB will be the local | official currency in Indonesia, Vietnam, Thailand, Malaysia, and the | Philippines, just like the US$ is the local trustable currency to the | Russian citizens today.

and the prices the Chinese pay for exported goods, is determined by the market, not by any official exchange rate . The RMB is no more free of market forces than anything else in this world. you are mistaken here. China has a controlled financial system. The value of goods exported or imported is controlled by the government through the exchange rate. Of course, in the future China will gradually relax its state control and move to more free system.

In the old years, you would have had days of your familiy members numbered when you stir up such kind of noises. Even today that is possible, unfortunately. BTW, it is kind of funny when folks say that the RMB can't be devalued without action by the government. When foreigners negotiate prices, they don't care about the official price . The value of Chinese goods in the world market, and the prices the Chinese pay for exported goods, is determined by the market, not by any official exchange rate . The RMB is no more free of market forces than anything else in this world. Love, Jim Although it appears from the law of the PRC that opposition political parties are legal, the CCP extra-legally punishes those who try to register such parties because the CCP is afraid of freedom.[Personal insults ignored.] Color was a false distinction; love was not -Dorothy West (1907-1998), in loving memory.