Author: sansukong

Dollar collapse: 7 of 10 Asian countries turn to yuan 0 17 Nov 2012 [Copy link] 中文

Rank: 6Rank: 6

Post time 2012-11-21 19:56:12 |Display all floors
And exchanging money at a Chinese bank is a slow process, at best.  Hopefully thjis will change when the yuan becomes fully convertible.  ANd hopefully the customer service in the Mainland banks will improve.

Don't be too hopeful... the Yuan's convertibility and the China's retail banking system are only very losely connected and I don't see signs that the monopolies of the state-owned banks will be abolished in the near future.
The only hope we have is that customers will turn to foreign banks once the Yuan is fully convertible, which would force the state-owned banks in China to improve their service quality in order to keep customers.

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