Don’t get me started on Chinese, the culture, the people, the currency.
I know plenty of people (usually Asian) who bought their bank CD’s from Chinese banks. The nominal RMB interest rate on those CD’s is low, but when you factor in the RMB<->USD exchange rate movement, then it looks real good.
I got yellow fever and that’s been working real well for me for about ten years. I eat Chinese food about 29 out of 30 days. The only house I own is in China. I married a beautiful Chinese woman from the mainland (and am VERY happily married). I speak quite a bit of Chinese for a white boy. Much of my money is in Chinese banks. I own Chinese stocks. In my USA home I have my wife and her parents so my home is filled with Chinese people; all my ears hear is Mandarin all day long. But I don’t act Chinese. I am who I am.
China IS the future. America is the past.
I believe the exchange rate will be cross 1:1 within ten years, probably within five years.
