[ting_bu_dung]

This is pretty much a non-event. China's more likely to suffer hyperinflation first, than become a currency that other countries use/store.

1.) Yuan is being printed massively (it hit a credit-to-gdp ratio of 30 to 1 http://www.bbc.com/news/business-37403363)

2.) it is a non-fully-convertible currency

3.) there are severe restrictions for yuan to move out of the country due to capital controls. max $50/year. also, $15k/year withdraw restrictions (http://money.cnn.com/2015/09/30/news/china-overseas-atm-cash...)

4.) no one is required to use yuan for trade.

5.) nobody wants yuan outside China. people in China are desperate to exchange yuan for other things inside China. All the conditions are there for hyperinflation to occur. Might happen early next year when europe and China both likely reject China's market economy status, and starts imposing tariff on Chinese imports heavily.

[fspeech]

This is basically a copy and paste of your previous post https://news.ycombinator.com/threads?id=ting_bu_dung without even bothering to correct the most glaring error pointed out by others. I say this is pretty disrespectful to users who are interested in real discussions.

[ting_bu_dung]

my last comment didn't get any good response; one wanted a clarification which was easily googleable. the other one about hyperinflation being supply driven made no sense (incorrect definition of hyperinflation), so I didn't bother responding.

how about you? do you have any response about the content, or is it more meta-critique?

[fspeech]

"europe and China both likely reject China's market economy status"

Did you even read what you posted? The above does not make any sense and you repeated it here without any correction anyway.

Googling or not you don't seem to realize that China is not currently recognized as a market economy by both Europe and US per China's WTO accession agreement. That particular clause is going to sunset this year. After the sunset if Europe and US follow the WTO rules they will no longer be able to use "substitute country" in determining fair prices in anti-dumping investigations. This is a positive for China. Even if Europe and US refuse to change it is still just status quo, or in your words, "non-event".

The other commenter's critique on your hyperinflation claim is entirely valid. Calling him incorrect without giving your "correct" definition does not make it so.

Also self-plagiarism is a thing. Sure this is only an internet forum but unless you are hell bent on propaganda please refrain from copying yourself verbatim without at least making a reference to your previous posts so people don't waste time repeatedly refuting your identical claims.

[cylinder]

Such short term thinking. Nothing in your post about the next fifty years. Basically everything you describe are policy choices that can be reversed over time.

Consider that Australia didn't even have a currency 70 years ago and didn't even float their dollar until the 1990s! Now the AUD is a decent chunk of the reserve basket.

US does plenty of printing and currency manipulation too via the Fed.

It's ridiculous to think that one national currency should be the international reserve. We're just in an awkward period. It will be a blend of all currencies with China becoming a bigger portion over time.

[eth0up]

Re: "non-event"

This could be a big step in the direction of displacing the US dollar as a global reserve currency, replacing it with the SDR. Maybe it is a non-event because the effects won't be instantaneous, but they very well might be game changers.

I am not an economist, nor could one easily convince me that the petrodollar and the artificially increased global demand for US dollars that result from it are insignificant. We will likely be seeing this change, soon. This all relates and touches on what seems to me, critical components of the world economy. Maybe a non-event - for a little while.

[Qianlitp]

It seems you know a lot about the Chinese.Maybe it's smear.

[mmkx]

It's a smear because they are knowledgeable? Please elaborate, account which was created 25 minutes ago. Your pathetic attempts to control opinion make me want to short your market even more.