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China paper urges new currency order after "financial tsunami"

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  • #31
    Re: China paper urges new currency order after "financial tsunami"

    well they probably could be better yes, but who am I to judge. If they can save as much as they do they must be doing something right and deserve a place at the negotiating table and I think they might just get it as long as their governments don't get further bought by this NWO stuff.....they just need to develop their own demand, it can't be that bloody hard.....I'm probably dreaming.

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    • #32
      Re: China paper urges new currency order after "financial tsunami"

      Originally posted by phirang View Post
      Have you been to any of these places? They suck.
      History says the arrogance could be costly.

      No doubt OPEC and BRIC have the problems but they have some advantages as well.

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      • #33
        Re: China paper urges new currency order after "financial tsunami"

        Phirac I've been going to China for 20 years and when i total it all up I've spent about 2.5 years of my life there. I enjoy being there and I like the people. It's often frustrating doing business for a variety of reasons but that is a different matter. Generally they are really happy people. Much happier than Australians or the US I think. So I wouldn't say it sucks and the people there don't think it sucks.
        I agree with you, as I think I've said, that the USD is the greatest con trick the world has ever seen. All these worthless IOU's are scattered all over the Globe. Well not quite worthless if they decide to execute them. I am very doubtful that the US is as smart as it thinks it is. The manner in which these IOU's are executed either in the near or distant future may come as a shock! TAnd they sure are hoplding a lot of them.
        The Asians think much longer term than we do. A time horizon of 20 years and longer is not uncommon on a deal. Long term for us is about 20 days!
        One other minor detail with the Chinese.....if you play bluff with them, you lose! Their lives, everyday living, even the traffic, is one big game of bluff. It's part of their character.

        So, again, I doubt the end game for the Western world is going to be as benign for us as we seem to think. Frankly, from my viewpoint, we are acting really stupidly.

        I realise i have not used Economic facts here. There are enough of those readily available, particularly who is in debt and who is not. Your point is about how that debt will be played out.

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        • #34
          Re: China paper urges new currency order after "financial tsunami"

          Originally posted by phirang
          BRICOPEC have weak political systems, and so they're beholden to keep full employment.
          Huh? more spouting nonsense. OPEC nations all have massive unemployment. So does Brazil and India. China's unemployment is fairly low, but that's because there are lots of subsistence farmers and people in/related to army/government. Russia has fairly high unemployment as well from US standards.

          Originally posted by phirang
          Have you been to any of these places? They suck.
          Um, so Shanghai, Dubai, Moscow all suck?

          For everything craphole rural spot in BRICOPEC, there's Mississippi and Louisiana.

          So please keep your ridiculous and poorly informed opinions to yourself.

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          • #35
            Re: China paper urges new currency order after "financial tsunami"

            Originally posted by c1ue View Post
            Huh? more spouting nonsense. OPEC nations all have massive unemployment. So does Brazil and India. China's unemployment is fairly low, but that's because there are lots of subsistence farmers and people in/related to army/government. Russia has fairly high unemployment as well from US standards.



            Um, so Shanghai, Dubai, Moscow all suck?

            For everything craphole rural spot in BRICOPEC, there's Mississippi and Louisiana.

            So please keep your ridiculous and poorly informed opinions to yourself.
            Drink the milk in shanghai.

            Take the metro as a black man in Moscow.

            Get in a car accident with a native in Dubai.

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            • #36
              Re: China paper urges new currency order after "financial tsunami"

              Originally posted by phirang View Post
              Drink the milk in shanghai.

              Take the metro as a black man in Moscow.

              Get in a car accident with a native in Dubai.
              Try to walk in some areas of New-York

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              • #37
                Re: China paper urges new currency order after "financial tsunami"

                Originally posted by phirang
                Drink the milk in shanghai.

                Take the metro as a black man in Moscow.

                Get in a car accident with a native in Dubai.
                Oh yes, come over to San Francisco and I'll drop you off in Hunter's Point at night.

                Or how about Jamaica in New York?

                As for metros in Moscow - I've seen Africans there.

                Again, you clearly are showing your information sources as MSM rather than real.

                Why is it that skinheads in Moscow make the whole nation racist, but wholesale riots due to Rodney King are just an expression of anger?

                Lastly, car accidents. Yes, how about you go get into a car accident with a native anywhere in the world but where you are in.

                See how it turns out.

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                • #38
                  Re: China paper urges new currency order after "financial tsunami"

                  The National is owned by the UAE Royals and edited by British newspaperman, Martin Newland. The following appeared in the Editorials section on November 8th: Lets build with industry, not debt

                  The UAE, better protected from the economic storm than most markets, appears to be shifting its economic priorities. I think the credit crisis will help us reflect and make sure the projects we are proceeding with are attractive and feasible, said Hussain al Nowais, chairman of Emirates Holdings. As the UAE plans for its economic future, it can learn several important lessons from the current economic tumult. While speculation and luxury projects may be in fashion for a season, only an economy built on work that promotes efficiency and innovation and not just the appearance of wealth will be able to thrive in the long term.

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                  • #39
                    Re: China paper urges new currency order after "financial tsunami"

                    Originally posted by babbittd View Post
                    The National is owned by the UAE Royals and edited by British newspaperman, Martin Newland. The following appeared in the Editorials section on November 8th: Lets build with industry, not debt

                    The UAE, better protected from the economic storm than most markets, appears to be shifting its economic priorities. I think the credit crisis will help us reflect and make sure the projects we are proceeding with are attractive and feasible, said Hussain al Nowais, chairman of Emirates Holdings. As the UAE plans for its economic future, it can learn several important lessons from the current economic tumult. While speculation and luxury projects may be in fashion for a season, only an economy built on work that promotes efficiency and innovation and not just the appearance of wealth will be able to thrive in the long term.
                    how itulip-esque!

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                    • #40
                      Re: China paper urges new currency order after "financial tsunami"

                      Originally posted by babbittd View Post
                      The National is owned by the UAE Royals and edited by British newspaperman, Martin Newland. The following appeared in the Editorials section on November 8th: Let’s build with industry, not debt
                      "...While speculation and luxury projects may be in fashion for a season, only an economy built on work that promotes efficiency and innovation – and not just the appearance of wealth – will be able to thrive in the long term..."
                      The GCC and the whole of the Middle East is competing with the rest of the world, and most particularly with the Asia [Chindia] subset, in this regard.

                      Given its history, cultural norms, religious xenophobia [still increasing], lack of confidence in government institutions [by their own populations], deeply imbedded corruption culture, abysmal education systems, and a host of other, similar, circumstances there is absolutely no possible way that region of the world will ever be able to compete. My observation after living in the Gulf for an extended period is that the gap with the rest of the world is increasing, despite the multi-year petro-dollar fueled "infrastructure' boom.

                      The then-Chairman of my firm [a senior Ruling Family member] put it best a couple of years ago during a long late-night discussion I had with him on this subject. He pulled the Nokia phone from the pocket of his thobe [dishdasha], threw it on the table declaring "Tiny Finland can make these. Other than oil what do we make?".

                      In a globalizing world the petro-boom is the absolute worst possible thing that could have happened to them, and the "curse of oil" is being revisited upon that region once again.

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