Everyone Missed It, But China has ALREADY retaliated for last night’s big currency vote in the Senate

0 Posted by - October 12, 2011 - Career & Business, Economics

 Everyone Missed It, But China has ALREADY retaliated for last nights big currency vote in the Senate*Taken from Business Insider.

Last night, the Senate passed a billthat would impose tariffs on currency manipulators like China.

It’s not expected to pass the House or get signed by The President, but China has already responded to the provocation.

As Nomura explains, it fixed the yuan shockingly low against the dollar last night, moving it in the exact opposite direction the U.S. wants:

CONTINUED..

6 Comments

  • beaufortninja October 12, 2011 - 7:55 PM

    China’s tough guy act is going to bite it in the ass. They have far more to lose if a full on trade war starts up.

    • TheSwash.com October 12, 2011 - 8:01 PM

      Agreed but the growth of the BRIC economic union could eventually make reliance on us a lot less important. In any event, I need to learn Mandarin so I can float between the two countries and set up shop wherever prosperity puts it’s head down.

      • beaufortninja October 12, 2011 - 9:15 PM

        I’m not so confident in BRIC but that’s just me. I’ve been learning Mandarin and Cantonese. Some people think the Chinese languages are ugly and sound silly but they’re actually quite fun to speak once you get the hang of it.

        • TheSwash.com October 12, 2011 - 9:24 PM

          Which language do you find most challenging? What did you use to learn them?

  • beaufortninja October 12, 2011 - 10:30 PM

    I’d say Mandarin is more difficult. But I like the way Cantonese sounds more. English is a phonetic language while Chinese is tonal. Once you learn the ropes it’s much easier to jump into. I took a month long course at an adult education center where they gave people access to Rosetta Stone (which is awesome btw), bought a few language books, watched some instructional videos (check youtube for some decent ones), dated a Chinese girl who tutored me, been to China twice where I was immersed in the language. So if you can manage all of that then I think you’ll be fluent in no time.

    • TheSwash.com October 12, 2011 - 10:36 PM

      I was wondering if Rosetta Stone was worth it. In due time, I shall be a Mandarin master.