It must be frustrated for you. The pattern happens again, someone propose something, others put one in a similar analogue, someone dodge away.
Chinese Economics Thread
- Thread starter Norfolk
- Start date
Doesn't the supposed "acknowledgement of unilateral secession of another sovereign state" constitute a violation of the said sovereign state's territorial integrity? If so, doesn't it qualify as a enemy act? Remember, being enemy does not necessarily mean being in a shootout war. So why can't China use that clause? No need to answer as I already know your answer of NOT-answering.
I also failed to see why you dragged in the American independence to the argument. The United States won her independence by a war which not only won her the recognition from other major powers like France (regardless of French intention), but also won the recognition of her former Sovereign the United Kingdom. This very fact, contrary to your purpose of bringing it into the picture, has somehow supported Blackstone's argument, in my understanding, that is one can only win his independence by one's will to follow to the bitter and bloody end, some ideology or emotional slogan doesn't do the job.
manqiangrexue
Brigadier
Blackstone, you mean they're not entertained enough trying to pull their country out of an economic coma long enough for a turtle's grand kids to die out, that they need more entertainment from other countries?
By Wan Zhe | Source:Global Times | Published: 2016-4-20 22:48:02
China launched a yuan-denominated gold benchmark on Tuesday in Shanghai in a bid to gain a greater say in the pricing of the precious metal.
The launch of the yuan gold benchmark was not achieved overnight. It was supported by China's rapid economic growth over the last few decades, with the wealth of the nation and its residents having grown alongside the nation's influence on the international stage. It also underscores China's efforts to gain greater influence in the international currency system.
Commodity pricing power reflects a country's national strength in the existing world economic order. Whoever has the greatest capacity in setting prices of financial products will have the greatest influence in the global financial market. The launch in Shanghai is a result of changes in the global bullion landscape, long dominated by London and New York where global benchmark prices are set, as well as changes in the national influence of countries around the world.
Therefore, the launch of the yuan gold benchmark in Shanghai not only reflects China's demand to have more say in gold pricing but also its demand to have more influence on commodity pricing in the global market. Despite being the largest gold producer and consumer with the largest volume of physical transactions on gold exchanges, China has long been dependent on dollar prices in international gold transactions. China has also had to rely on overseas exchanges for pricing of other commodities.
This situation brings considerable financial risks and losses for China and could even endanger national security as a result of market chaos and economic uncertainty. Therefore, it is vital for China to have a multi-layered financial market system in place and to improve the country's pricing power in financial products. The launch of the yuan gold benchmark in Shanghai is only a small step toward that goal.
Meanwhile, the new Shanghai benchmark is also connected with China's efforts to internationalize its currency, the yuan. Internationalization of the yuan requires China to develop its own international financial center and international financial market, as well as to gain greater influence over commodity prices in the international markets. Having more say in gold prices is a major part of that effort.
At the same time, a greater say in gold pricing also relies on the growing influence of the yuan in the international market. With gold prices denominated in yuan becoming an international practice, the role of the yuan will be further enhanced in the international financial system. Therefore, the new gold benchmark will increase the yuan's standing as a major international reserve currency in the future.
That said, the launch of the Shanghai gold benchmark is only a preliminary step. What matters most in the future is whether China can prove that the gold pricing mechanism is transparent and rational and whether it can create conditions for expansion of market transactions and attract more international players.
The author is a chief economist with China National Gold Group Corporation.
Jura The idiot
General
Equation
Lieutenant General
Here is an interesting read.
How China Is Building the Biggest Commercial-Military Empire in History
JUNE 9, 2015
China’s outsized latticework of global infrastructure is said to be rooted in a fierce competitiveness learned from 19th-century America.
In the 18th and 19th centuries, the sun famously never set on the British empire. A commanding navy enforced its will, yet all would have been lost if it were not for ports, roads, and railroads. The infrastructure that the British built everywhere they went embedded and enabled their power like bones and veins in a body.
How China Is Building the Biggest Commercial-Military Empire in History
JUNE 9, 2015
China’s outsized latticework of global infrastructure is said to be rooted in a fierce competitiveness learned from 19th-century America.
In the 18th and 19th centuries, the sun famously never set on the British empire. A commanding navy enforced its will, yet all would have been lost if it were not for ports, roads, and railroads. The infrastructure that the British built everywhere they went embedded and enabled their power like bones and veins in a body.
Jura The idiot
General
... it's not that new, but indeed interesting; in particular
- the sentence "Chinese companies are venturing out and doing deals lacking any particular order." helps explain to me why the Chinese bought a Czech soccer club recently (famous/bankrupt club, further description would immediately go off topic LOL)
- the sentence about the hyped deal with Russia on the natural gas "The deal had some snags, but they reportedly have been worked out, and construction is to begin soon." is understandable considering at the time the article was written, the gas price was so low Russians would spend their "gain" on just building the pipes
Russians employing a standard tool of the trade 'loss leaders'.Typically used by the grocery 'supermarkets'.... it's not that new, but indeed interesting; in particular
- ." is understandable considering at the time the article was written, the gas price was so low Russians would spend their "gain" on just building the pipes
Jura The idiot
General
solarz
Brigadier
Once again, Western writers are using their own history and preconceptions to analyze Chinese actions.