Chinese yuan to become global reserve currency

[KingWest]

You still haven answer my question why Turkey buys China HSR for their national railway project?

I give you 2 answers - Becos Turkish are equally cheap, low quality and bad as the Chinese product you claimed in your theory or China product is reliable and good with value for money that Turkey picks China HSR as their railway project which defies your hate China theory.

Please choose one to reply me

Because the Turkish governemt believed that the Chinese offered the best tender. (I dont know what the exact qualifications where). Once again, I never stated that Chinese products where bad or inferieur in any way. The governemnt probably taught the Chinese offer was the best, and thats why China won the tender. A government decission however, has nothing to do with the general perception of a country's product. And the general perception can only change in time, just like the perception of the "made in Japan" label. (which used to be bad, but is now viewed as really good).

 

[beijingwalker]

Why China has to compare with a small country like Turkey? China is the world's biggest trading nation and the whole world buys Chinese products like crazy, what's Turkey's share for that, negligible at best.

 

[My-Analogous]

I live in Belgium I know what I talk about. The label "Made in China" is not something you can be proud of. In Belgium, they will see the product labelled as "made in China " as a product of inferieur quality. The same cant be said about Turkish products in here. Im not talking about the actual quality of the product. Im talking about the percieved quality of the product.

Edit: If you have for example 5 products in a store, and the 5 products are exactly the same. But the first product is made in Germany, the second made in Japan, the 3th made in the US, the 4th made in Turkey and the 5th made in China. Than the majority of the people wont buy the made in China product because of the percieved inferieur quality of the product. Eventough they are exactly the same products.

When you export something, on that time you have to follow that country industrial standard and if Chinese product is inferior then may be that country industries standard is inferior and all products of that country having same standard

 

[mike2000 is back]

@mike2000 is back was shocked that DJI is a Chinese company after finding it out here . He thought it was a western company since he owns one of its drones. Apparently he was very impressed with the build quality he thought it has to come from some Western company.

Well, you are right to some extent .
However , that in itself is another
sign that that even though China has been improving it's standards/quality of it's products, it still has a long way to go to match western and Japanese standard. Since many people around the world are still surprised when they see a good quality product coming from China (I mean a Chinese designed and manufactured product, not a western designed product made in China). Meanwhile it's not the case with Western and Japanese products , since many people already know their quality standards are world class.

So China still has a long way to go before it can match western and Japanese standards all across the board. Since even today, good quality products designed and made in china that are popular the world over are still rather an exception rather than the norm.
In short , there are still too many shoddy products which tarnishes the reputation of the few others whose quality are world class/at par with the best . However it's understandable though , since China is still a developing country. So it still needs time for all it's industries to match developed countries standards as a whole.

Nevertheless there are still some very world class Chinese companies like Huawei, haier, DJI, just to name a few who design and make their products themselves locally. They are a new breed which many Chinese companies should follow.

As for the topic, china should normally have it's currency Among the SDR, since our currency British pounds , U.S dollar, and the Japanese yen have all been part of the world three main currencies recognised and used all over the world . I think it's long overdue that the Chinese yuan will be included . China has to know that including it among SDR means it will have to speed up the opening up of of it's financial market and reforms, it will also have to make the yuan more freely usable(and by this I mean fully convertible ). Since China places caps on how much cash its residents can take out of the country; forces international companies to do extensive paperwork before bringing large sums in; and limits foreigners to strict quotas for investing in its capital markets. All these will have to change, and it does comes with risks . But hey, we all have to take risks at one point in life. Else we will all remain with the current status quo.

 

[Kyle Sun]

Has nothing to do with the fact that "made in China" products have the same connotation as cheap, unreliable, etc. Its a fact, dont want to argue about a fact with you.

We never force people to buy cheap unreliable made in china priducts,right?