ltlee1
10/24/2010 4:36:00 PM
On Oct 24, 10:17 am, Wakalukong <wakaluk...@yahoo.com.sg> wrote:
> On Oct 24, 10:00 pm, "Albert K. Fung" <akwf...@hotmail.com> wrote:
>
>
>
> > ltlee:
>
> > > Highlights:
>
> > > 1. According to market (Hong Kong?) analysis, Soros had transferred 8
> > > to 9 billion US dollar, about one third of the Soros fund, into Hong
> > > Kong.
> > > 2. Last week, Soros had written an article for Financial Times in
> > > which he said a 10% rise in RMB for every year was acceptible.
> > > 3. The hugh influx of money had been Hong Kong's financial control
> > > authority's cause of worry.
>
> > > Question:
> > > If a country increases its productivity through hardworking and its
> > > people's ingenuity, its currency will sooner or later appreciate. When
> > > it does appreciate, the people, as a whole, would be rewarded for
> > > their collective effort. That is fair. How about the influx of
> > > speculative capitals aiming to reap the benefit and in the process
> > > disrupt the normal operation of the economy?
>
> > fyfpoon:
>
> > > Soros is taking advantage of the delayed appreciation but he did not
> > > delay the appreciation himself.
>
> > > Blame that guy who delayed the appreciation.
>
> > Post crisis ....
>
> > The entire world up in arms about China's mercantilistic be-
> > haviors. And are demanding global economic rebalancing. This
> > is not just the demand of the USA.
>
> > Smart money are betting that China is running out of room.
>
> > She is now caught between a rock and a hard place. But with
> > her largest trade partners welding the big club of tariffs,
> > she has no choice but to stop manipulating her currency for
> > trade gains. The USA don't like it, neither does the EU.
>
> > It is jeopardizing globalization and the world economic or-
> > der that created many economic dragons and tigers, deliver-
> > ed billions out of poverty. China has only herself to blame
> > for not being proactive when not under pressure. Now she is
> > out of maneuvering room, even this humble netter is betting
> > his shirt against China, not to mention vulture capitalists
> > and financial sharks.
>
> > Who are circling - in air, land and ocean seas .... :)
>
> > Regards,
>
> > Albert K. Fung
> > Rancho del Canto, Paso Robles, California, USA.- Hide quoted text -
>
> > - Show quoted text -
>
> ---------
>
> A person making jaw-dropping, eye-popping proclamations without
> supporting evidence can't possibly be a humble netter. Any moron will
> know that the yuan will go up, as it had for years. That's not a
> smart answer. A truly smart answer is one that gives the percentage
> of increase.
The U.S. had asked China to let the RMB appreciate last march.
According
to what I read, China still had concerned over its recovery as well as
global
economical recovery. So it responded to the request with a token raise
and
promised to review the situation early next year.
Since then, it had polled the business sector and the economists. If
I
remember correctly, 3% would have little or no impact on GDP growth.
9% would be the point of inflection.
Since mid-September, there had been a seris of article suggesting
China to
take the leap. I had posted one of these article but it did not show
up.
> Wakalukong- Hide quoted text -
>
> - Show quoted text -