Are the ChiComs printing too many yawns or renminbis?
Do Red Chinese in rural areas buy rice with yawns or renminbis? One greenback buys about 7.54 yawns. How many renminbis in a yawn?
yitbos
As I understand it, the renminbi is the Chinese yuan as discerned from the new Taiwan dollar.
I don’t know whether making too many of them would keep the currency down on the world market. But my uneducated guess is that if Chinese workers have to pay more for their products, so will American importers, eventually. It appears that the dollar must fall.
And as more workers become active in new production in China and other countries, more of them will be commuting. It doesn’t look like oil will go down in the long term.
Yours,
familyop, AKA Captain Obvious, the uneducated macro-macro-macro economist (’cause it’s so easy. ...too bad that it doesn’t pay)
1.00 CNY (China yuan renminbi) = 0.13295 USD
at ~ 3:29 AM ET (Reuters)
http://today.reuters.com/Investing/Currencies.aspx