Author: greendragon

Would China develop it's own credit card system? [Copy link] 中文

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Post time 2009-11-6 14:59:37 |Display all floors

In fact, it's a great POSITIVE to have Red Politicians!

But they must be TOLERANT of other lifestyles!
don't sabotage other people's happiness!

and CARRY OUT their agenda of HELPING THE POOR!
WITH the patience and care after studying the NATURAL WAYs......
without hurting China's ability to PROGRESS.



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Post time 2009-11-16 15:59:54 |Display all floors
Originally posted by greendragon at 2009-11-3 11:20
Why can't she use that card that looks very much like JCB, Japan card?

....please teach me, you are such a smart fellow!
I am a simple person, but it does seem that we don't have a good system  ...



i think she likes the smell of new monies la
What's on your mind now........ooooooooooooooo la la....Kind Regards

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Post time 2009-11-16 16:06:56 |Display all floors
Originally posted by greendragon at 2009-11-3 11:13
Oh! Union Pay credit cards!

So, that's was what that Beijing Lady had in her huge wallet at Parkson last Saturday!
hmmmmm

Yes, Yes, i was not paying attention, you know i don't read Chinese  ...


UP can withdraw money from banks la

for eg. HSBC or Std chartered

i got one Bank Of China ATM card with UP logo on it

but i did not put money in it as sweetie got the passbooks
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Post time 2009-11-18 12:54:23 |Display all floors

Reply #30 caringhk's post

If that FAT LADY loves the smell of fresh, crisp new Rmb notes, then China must progress further!!!

Small entities like Hong Kong, Taiwan, Korea, Hong Kong and Malaya needs to have either a full CURRENCY BOARD SYSTEM or a PARTIAL forex horde backing!

it's 100% for Hong Kong, Singapore, Taiwan.
While Korea and Malaya we have 50% backing or less!


it's strange that CHINA behaves like a small state such as Singapore!
I think it was the BAD OLD DAYs of "barrel of the gun policies" which makes people BOLT!
example, the FAMOUS swim to HONG KONG, the FIGHTER PILOT dash to TAIWAN.
only in poor buffer states of Mongolia, North Korea, and the high mountains of Himalaya, Chinese do not bolt!

BOLTing is a common human nature, the lure of a better life!

in modern days, FEAR living in TYRANNICAL REGIMEs causes the same!
it's called FLIGHT CAPITAL.
Big power always sought to install such regimes in small states to make their empire, nation become attractive!

(that's how GERMANY manage to get Mr. Hitler installed, and Mr. Mussolini in Italy  - national socialist types!)

I find it AMAZING when politicians discuss about government defisit spending, wonder whether they are still in biblical age, or in the ancient China times! (both Pakatan and Barisan politicians gives me the chills!!!!!)




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Post time 2009-11-18 13:06:44 |Display all floors

With RED politicians, China pacify the poor masses!

and sought to create a QUALITY OF LIFE that the poor in other states jealous and envious!

WITHOUT hampering the natural order of economics!
without damaging CULTURE to develop a BETTER QUALITY OF LIFE!
(example, having workers who are not bothered about customer SERVICE, don't value TIME, don't appreciate pleasantness of COURTESY, and soft MANIPULATIVE methods!!!)

If China is confident as I am, with China's current US$4.3 trillion GNP, Forex US$2.3 trillion (or more than 50% GNP coverage!) - it could experiment in more CREDIT CREATION, GOVERNMENT DEBT (maintaining government debt to less than 60% to GNP equal to the big powers globally! - and in RMB denominaton so that it can be neutralized when needed )

The MAIN PROBLEM now is unleashing the  business  prowess of the Chinese people to be able to take up the advantage of the additional credit - ie. increasing consumption would help create more business people!!!  



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[ Last edited by greendragon at 2009-11-18 01:11 PM ]

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Post time 2009-11-18 13:15:26 |Display all floors

Imagine what that does!!!!

If you have 50% coverage based on current forex - it's a US$4.3 trillion GNP
(Rmb 30 trillion economy now!)

if we have 25% coverage based on current forex - it's a US$10 trillion GNP possibility!!!!
(Rmb 68 trillion economy in 2018?)

BUT we must create those BUSINESS NETWORKs that generate employment, increase the velocity of money, encourage consumption of goods and services!!!!


ARE WE PREPARED to develop the new business networks with those baby MEGA companies!!!


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Post time 2009-11-18 13:23:15 |Display all floors

This is an alternative to catch up with the American Regime....

....should they continue to manipulate slow growth of credit policies!

and use inflationary dollar policies, to reduce income of Chinese workers!
China economy would not be able to equal the American Regime if it only use a 50% currency board system!

(attacking the currency of Malaya, Korea, Taiwan, Hong Kong and Singapore is easy due to the US$1 billion a day trading system! It would be more difficult to do the same with partial capital controls in China especially as QUALITY OF LIFE in China improves!!!!)

This is worth consideration depending on the global rivalry situation and the strategies they use!

ha ha ha


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