Author: jimmy67

Are Asian central banks using RMB as reserves now? [Copy link] 中文

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Post time 2007-1-13 22:20:51 |Display all floors

more investments on Tech

hanlei said:  "I see those central bankers now starting to store RMBs as a far-sighted and clever move."

I will suggest that China, both government and corporate, beef up investments on Tech research and development.  Prior to Rmb becoming a hard currency,  China needs to become an tech power, in addition to economic power.

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Post time 2007-1-14 13:28:55 |Display all floors
some of them maybe, we never know it
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Post time 2007-1-14 14:04:13 |Display all floors

China should increase scientific R&D

It is good that China has worked on its own to send the Divine-Ship space shuttle to the space, and lately its Jian-10 4th-generation jet fighters have come into air force use.  More good news will come.  Beijing is doing a quite eye-catching job in adding investment in R&D. However, more must be done.

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Post time 2007-1-14 14:07:57 |Display all floors

Tech spending, RMB reserves

I agree that China should spend more money on tech, but I don't think it will be "their" money that is spent.  Once things settle down just a LITTLE more, we are going to start to see a huge increase in venture capital coming into the country.  

Right now we are on the verge of having the largest highly educated engineering and technologically skilled workforce that the world has seen in some time.  America has no education system anymore and most students rule out engineering and computer science as an option long before college.  So as they sleep, China gains strength.  

Technology develops from education.  While America still has a much larger educational base than China, it is developing.  It will make a huge impact.  Flashback to Ireland in the 1990's.  They were beating themselves to death with taxes and economic measures to try to understand what exactly their problems were???   Finally, they basically made higher education "free" to the masses and over the next 4 or 5 years created an incredibly skilled tech base.  Today, they are the 3rd wealthiest nation in Europe, per capita (behind Norway and Ireland).  In just over a decade, they went from brutal revolution to economic stability.  Their answer was education and basic reforms to attract tech.  

China is doing the same.  Right now they attract incredible tech capital.  All they need is a little more transparency and trust.  Bingo..............

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Post time 2007-1-14 14:23:45 |Display all floors

well, america needs to give up the criminal intent

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Post time 2007-1-15 11:23:01 |Display all floors

We are now facing serious ecomomic problem

Phonomina one: RMB is appreciating while USD is taking the other road.
Phonomina two:ecomomic bubble roar ahead. the price of food,house,cloth,education is rising
Phonomina threevercapacity .so many house left there vacant. so many products no one buy

Reasone: We should dig deep to find out the reason. Chinese goverment now face political and economic pressure from U.S. and E.U.

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Post time 2007-1-15 13:30:15 |Display all floors

Reply #25 barnaclebill's post

That only works for NICHE INDUSTRY targeting KONGFU.

You cannot do that, or at least Central Government cannot do that.
There is a pyramid of industry in our contemporary world.
It's up to the individual local government in the New Middle Kingdom to fill the niche best suited for it due to enviroment and cultural baggages.

ie. i meant....the WHOLE of China cannot follow Ireland lead!
Why? Because Ireland has only 6 million population....
and easily (like Singapore) be able to fill a single product niche...
of high value!!!!

Green Dragon
common Sense economist
New MIddle Kingdom

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