Agree and why I am personally here. Just meant that Joe Average investor probably doesn't see it that way. Below is my post on CGS board this a.m. It punctuates IMO, Chinese growing influence as a market driver and our points about US inflation. The last quoted paragraph gave me an actual chill. Thats some eye-opening data, what if yuan could potentially replace dollar? Inflation would be the least of our worries!
SSE: Still green. And here's a good sign for China anyway. China will sell 8B yuan in Dim-Sum bonds. Last sale was in Oct 2009. Being snapped up as yuan appreciation fully anticipated. China does drive the markets. Excerpts below. Excellent and telling article on link below.
"Chinese bonds sold in Hong Kong rallied more than debt from the biggest developing nations in the past three months as international investors snapped up the securities to benefit from expected appreciation of the yuan."
"China showed its support for the market this week as the Ministry of Finance announced plans to sell 8 billion yuan of securities on Nov. 30 in Hong Kong. Fund managers will be offered 5 billion yuan of the debt, with the other 3 billion yuan earmarked for individuals. China’s only previous sale of yuan debt in Hong Kong raised 6 billion yuan in October 2009."
"China is allowing greater use of its currency in global trade and investment to reduce reliance on the U.S. dollar. The value of international trade transactions settled in the currency jumped 160 percent from the three months through June to 126.5 billion yuan in the third quarter, the central bank reported on Nov. 2. Yuan deposits at Hong Kong banks more than doubled to a record 149 billion yuan in the six months ended Sept. 30, Hong Kong Monetary Authority data show."
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