What Growing Enthusiasm for the Yuan Signals for the U.S. Economy

Reader Comments
Back to article

Mr Sanusi Lamido is a corrupt banker and should not be a governor of central bank. Together with EFCC chairman Ibrahim Lamorde he actually scammed me on Nigerian EFCC victims of financial fraud re-compensation program. I was scammed in real estate in 2003 getting a dud check. After 9 years of EFCC silence Mr Lamido flaterred from me via MoneyGram and WesternUnion $2099 for alleged release fees to pay out my old claim. Mr Lamido neither use bank transfers nor any documented accounting. All details on file.

Richard Mika of FL 3:42PM April 03, 2013

Yes,Possibly but I remember all these graphs and statistics in the 1980's trying to prove Japan would be the new king. The comment from the Nigerian Central banker Mr Sanusi that China was well run is a central issue. They have good growth and have to date kept the lid on social unrest but have the got anything like the inventive and creative power of the US. Have they got firms like Apple, Amazon, Microsoft, Caterpillar etc?
In truth anything they have that is to do with high technology is stolen from the west. For sixty years I have heard people predict the demise of raw capitalism. Raw capitalism is a permanent revolution where the bottom 10% of firms are canabalised by the young turks leading to ever greater efficiency. This principle ironically should be what a radical country like China should be aspiring to, Write off America at your peril Mr Sanusi.

John Murphy 1:17PM December 29, 2011

Does anyone know how the currency is valued?
What is it base on?
Is there a formula to calculate an currency values?

five_david of NJ 10:33AM December 22, 2011

What the growing enthusiam for the Yuan signals is just how in-the-dark most people are about the sorry state of the Chinese economy.
China has a long list of problems that typically don't ALL occur in a country simultaneously. That is, high inflation, record-low interest rates, a rising currency, massive accounting fraud, increasing bank defaults, and a real estate bubble (Chinese officials actually call it "the real estate bubble") all at the same time. It's a mess, and it's getting worse.
Within a couple of years, all this talk about China economically overtaking the US will be forgotten.
.

The Frost Report Blog 4:19AM December 07, 2011