Fully Tradable RMB -- a myth?

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Fully Tradable RMB -- a myth?
May 21, 2008 10:36
MUDDIEDKNEES Points: Join Date: Apr 1, 2008 Status: offline	When I moved to China several years ago, everyone was saying that the great Renminbi (RMB) will become fully tradable before the Olympics. Fully tradable means that we can all fly to the US with our stacks of red Mao (bless his soul) bills and change them to greenbacks in the states. Was this a myth or will the RMB become fully tradable soon?

May 21, 2008 19:42	#1
GUEST07247	I wouldn't count on it.

May 21, 2008 22:33	#2
JIMMYB Points: Join Date: Feb 7, 2007 Status: Offline	I don't think RMB will become fully tradable very soon. Influenced by the earthquake, the inflation is becoming more serious. Thus, China wouldn't allow RMB to appreciate greatly.

May 22, 2008 21:39	#3
SHESGOTTOBE Points: Join Date: Nov 23, 2007 Status: Offline	Far from it. Before I left for China last year, I was looking into getting RMB before I even board the plane but no banks I called would. Luckily, I still have some leftover RMB with me from that trip. No, wait. I remember I really saved them for my collection. I even specifically saved those without creases in different denominations. I would hate to spend them now. O_o

May 24, 2008 22:39	#4
MARRIE Points: Join Date: Jan 7, 2008 Status: Offline	it will be a myth until our domestic mkt fully matured and domestic industry giants are ready for competition globally.

May 26, 2008 11:46	#5
APAULT Points: Join Date: Mar 11, 2006 Status: Offline	Sorry Jimmy, but the inflation was whizzing along well before the earthquakes - though these have the potential to add a little to it. Inflation comes from the BRIC's massive increase in demand in a short space of time. The world economy is overheated and money is chasing the limited resources.

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