China will move on yuan when stimulus packages end: banker

"I expect the renminbi to double, triple, quadruple over the next few decades," Rogers said on CNBC. "Just as the Japanese yen...went up 400% over the past few decades against the dollar, the renminbi will too.

The Chinese government is very close to announcing a revision of its currency policy in the coming days that will allow greater variation in the value of its currency combined with a small but immediate jump in its value against the dollar, people with knowledge of the consensus emerging in Beijing said on Thursday.

ianadds wrote:Hurry up...I want to retire in Australia..LOL
Sunday January 31, 2:11 AM
China will move on yuan when stimulus packages end: banker
http://sg.biz.yahoo.com/100130/1/4sn4w.html

China will look at revaluing its currency when global partners begin to withdraw their stimulus packages, a top Chinese central banker said Saturday. However, Zhu Min, deputy governor of China's central bank said revaluation would not fix world trade imbalances. He told the World Economic Forum in Davos that China is trying to raise domestic consumption, but warned it would take time to get thrifty Chinese to spend more.

Strauss-Kahn said. But he warned that Chinese consumers are far from able to offset lower US consumption. In a separate session, Standard Chartered bank's group chief executive Peter Sands said there was no quick fix to China's currency dilemma. "I think there (are) a lot of simplistic things said about the renminbi. Some seem to believe that if it were revalued, all the macroeconomic imbalances will disappear instantly. That's just wrong. It's far too simplistic," he said. He pointed out that the value of Asian economies has increased, and that "value is going to be reflected in the way Asian currencies are valued relative to the western" currencies.

April 15 (Bloomberg) -- Singapore’s currency revaluation may prompt policy makers in China, Indonesia and South Korea to start withdrawing monetary stimulus as economic growth in the region outpaces the rest of the world.

Asian central banks are mostly “behind the curve” in tightening monetary policy and inflationary pressures may rise, said HSBC Holdings Plc’s Robert Prior-Wandesforde. Singapore yesterday announced it will allow its currency -- the city- state’s principal monetary tool -- to strengthen, even as China, South Korea and Indonesia keep interest rates unchanged.

Singapore’s currency revaluation may have been prompted by expectations China was preparing yuan appreciation, said Tim Condon, chief Asia economist at ING Groep NV in Singapore. Twelve-month non-deliverable yuan forwards climbed for a second day to 6.613 per dollar, reflecting bets the currency will strengthen 3.1 percent from the spot rate of 6.8259, according to Bloomberg data.

ianadds wrote:My portfolio position:

l) Mainland China
I liquidated all my Shanghai real estate and mutual funds. I believe the crash is just around the
corner.
2) Taiwan
Shorting the market until the end of year. Taiwanese Dollar has undergone currency appreciation from 34 New Taiwanese Dollar to 32ish (vs One USD) during the last two weeks.
3) Hong Kong
Shorting the market until the end of year
4) US
Silver and Gold
Shorting the market until the end of year
http://www.bloomberg.com/markets/stocks/futures.html
Happy investing....

(ChinaPost.com.tw) - The Central Bank of the Republic of China (CBC) advised the two major foreign banks in Taiwan that are authorized suppliers of Chinese currency to acquire banknotes directly from China to beef up their supplies, a CBC official said yesterday.

BEIJING (Dow Jones)--American Express Co. (AXP) said Tuesday it will launch the world's first yuan-denominated travelers checks for visitors to China next month under a partnership with Bank of China Ltd. (3988.HK), in response to increasing demand for the prepaid product.

Starting May 10, travelers to China will be able ...