What's new

Vietnam wary of plea to expand Chinese currency transactions

Riel and VND will not lose half of its value in the near future like CNY coz China will be the next target for US after US beat Russia in Oil war.
bro, China will become a target of international sanction if she resorts to violent means in the dispute with her neighbors. Let say, China starts a war against Vietnam and Philippines to seize the islands in the South China Sea. the embargo is placed on Russia after it seized the Crimea.
 
bro, I think the "expert" Nguyen has no idea how an economy and currency markets function.
I give you an example: Forget China and Yuan. Put it out of your head for a while.

You are a merchant having stores importing goods from Cambodia to Vietnam. your shops have vietnamese, and sometimes cambodian customers (tourists).

What happens when you go to Cambodia, buy local goods and import to Vietnam? you pay in riel (cambodian currency). and when selling these goods to vietnamese customers? you accept dong (vietnam currency), or riel, because you can use riel to buy cambodian goods. so, you usually have two money accounts at your bank: one in dong, one in riel. Money transactions would get easier if your cambodian counterparts accept dong. because you don´t need to convert to riel if you lack of it.

Are dong and riel international convertible currencies? obvioulsy not. Does accepting riel pose a risk to our vietnamese economy? obvioulsy not, either. Does accepting dong pose a risk to cambodian economy? you give me the answer!

I can not go to cambodia to collect goods like small merchants, I have to sign contract with cambodian company who could provided such goods for me. When I open L/C I have to provide guarantee sectificate issued by my bank. This Bank is accepted by both side.

What happen to my Bank when I do pay a final payment to cambodian counterpart, but Cambodian Riel is not available in the market (with other word since Cambodian Riel is not yet freely convertible on the international market),? This risk is suffered by my bank.

This is similar to role of Vietnam Centre Bank who is responsible to all activities of export/import of our economy. So why, the state reserve is always announced that the amount of reserve in USD is available could provide cash money to Import in how many week or in how many mounth.
 
Riel and VND will not lose half of its value in the near future like CNY coz China will be the next target for US after US beat Russia in Oil war.

Wow...good one. This makes almost as much sense as your assertion that India, Russia, and the US will all base at Cam Ranh Bay...at the same time. :crazy:

If the Chinese Yuan depreciates in value, especially against the US dollar, that means Chinese exports are even more competitive and China's trade surplus with the US and Europe increases. The reason the US can destroy the Russian ruble is because Russian economy isn't diversified and overwhelmingly depends on oil exports - that's it. Russia's economy isn't intertwined with that of the US as is the situation with China.

In case you haven't noticed (and it's obvious you haven't), the US has been trying to get China to appreciate its currency vis a vis the US dollar over the past decade. But yeah, after Russia, the US will arbitrarily force the Chinese Yuan to lose more value thereby hurting its own nascent economic recovery. Only a Viet with sub-Mekong delusions would think that makes sense. :omghaha:
 
Last edited:
bro, China will become a target of international sanction if she resorts to violent means in the dispute with her neighbors. Let say, China starts a war against Vietnam and Philippines to seize the islands in the South China Sea. the embargo is placed on Russia after it seized the Crimea.
i honestly don't see US will put an embargo on China if it's just about those islands and only Vietnam and Philippines are involved. US will just sell you guys more weapons and badmouth about China in media, nothing on the scale that Russia is facing today.
those islands are just rocks that no one lives on, while Crimea is a huge piece of clay of great geopolitical and military importance, there really is no comparison. the fact that US is not ready to be directly involved in the Crimea issue and Russia now has full control over Crimea should be a wake up call.....
 
i honestly don't see US will put an embargo on China if it's just about those islands and only Vietnam and Philippines are involved. US will just sell you guys more weapons and badmouth about China in media, nothing on the scale that Russia is facing today.
those islands are just rocks that no one lives on, while Crimea is a huge piece of clay of great geopolitical and military importance, there really is no comparison. the fact that US is not ready to be directly involved in the Crimea issue and Russia now has full control over Crimea should be a wake up call.....
do you want to gamble?
if you think the world sits still, so go ahead and seize the islands from VN and PN. what are you waiting for?

I can not go to cambodia to collect goods like small merchants, I have to sign contract with cambodian company who could provided such goods for me. When I open L/C I have to provide guarantee sectificate issued by my bank. This Bank is accepted by both side.

What happen to my Bank when I do pay a final payment to cambodian counterpart, but Cambodian Riel is not available in the market (with other word since Cambodian Riel is not yet freely convertible on the international market),? This risk is suffered by my bank.

This is similar to role of Vietnam Centre Bank who is responsible to all activities of export/import of our economy. So why, the state reserve is always announced that the amount of reserve in USD is available could provide cash money to Import in how many week or in how many mounth.
why not? you think too complicated.
 
to be summarize this:
- China suggest to make transaction in CNY inside Vietnam territory.
- This is unreasonable suggestion because Vietnam doesn't accept even US dollars to do that.
All transaction inside Vietnam must be done in VND.
Btw, I would bring some US dollars to travel aboard to make sure the exchange rate is better.
I can't make sure if I keep CNY, could I get the exchange done or not when travel to another country. The US dollar could.

Vietnamese buying properties in Vietnam do not accept Dongs, but USD. Before they only accept gold.

Even the banks and property owners don't trust the Dong

We need to butcher NiceGuy, he is the enemy of the state :butcher:
NiceGuy is ok. I like reading his posts.
 
do you want to gamble?
if you think the world sits still, so go ahead and seize the islands from VN and PN. what are you waiting for?
....calm down, buddy. no one is gambling now.
you suggested an imaginary scenario that first china will unilaterally seize the islands and then the 'world' will sanction china because those islands like just what happened to Russia, i merely pointed out the difference. the question is how important those islands are for the strategic outlook of US global interests and how US will make moves accordingly.
it's a ruthless and cruel world that we all live in.
 
Vietnamese buying properties in Vietnam do not accept Dongs, but USD. Before they only accept gold.

Even the banks and property owners don't trust the Dong
yes, gold is actually the currency king in vietnam. it was the case in the past, and it is the case now and will be in the future. gold is the ultimate currency. it always keeps the promise.

....calm down, buddy. no one is gambling now.
you suggested an imaginary scenario that first china will unilaterally seize the islands and then the 'world' will sanction china because those islands like just what happened to Russia, i merely pointed out the difference. the question is how important those islands are for the strategic outlook of US global interests and how US will make moves accordingly.
it's a ruthless and cruel world that we all live in.
It is you who claims your actions enjoy impunity. Have you forgotten?

You deployed the oil rig to our water on Mai 2, resulting to month long confrontation of both patrol coast guards at sea, antichinese riot, rising antichinese sentiment, destabilizing vietnam, splitting the VCP members, not to mention bringing the countries to a verge of an armed confrontation.

before parliament, Shinzo Abe cited the China oil rig deployment to VN water as one of the reasons why Japan needs to change the constitution, warning the danger from China aggression. On July 1st, the Japanese Cabinet approved the decision.

On July 15th, the US Senat passed a resolution that “condemns the use of coercion, threats, or force by naval, maritime security, or fishing vessels and military or civilian aircraft in the South China Sea and the East China Sea to assert disputed maritime or territorial claims or alter the status quo.”

Do you want to push us into a corner? do you want to see Vietnam joining America/Japan alliance against China? have you considered what happens if a new VN government comes in place that acts more aggressive against you?
 
why not? you think too complicated.

when I'm a small merchant, I don't need the Bank, i can go to Cambodia and I can pay at sight. so Under Vietnam’s current laws, it is only permitted for use in cross-border trade.

It is complicated when the deal is reached to hundreds million USD in value and Vietnam - China trade is reached to 60 bill USD in this year.
 
Last edited:
Do you want to push us into a corner? do you want to see Vietnam joining America/Japan alliance against China? have you considered what happens if a new VN government comes in place that acts more aggressive against you?
'no Russia style sanction' does not equal to 'immunity'. China will face a PR war and that's not our priority.
i can also give you the Chinese version of 'why it's all Vietnam's fault'. but that's not constructive.
whether Vietnam joining US-JP alliance is up to your own calculation of your national interest at home. so does it benefit Vietnam more to entirely change your camp now? you can flirt with US and JP occasionally to get some military support for sure.
 
'no Russia style sanction' does not equal to 'immunity'. China will face a PR war and that's not our priority.
i can also give you the Chinese version of 'why it's all Vietnam's fault'. but that's not constructive.
whether Vietnam joining US-JP alliance is up to your own calculation of your national interest at home. so does it benefit Vietnam more to entirely change your camp now? you can flirt with US and JP occasionally to get some military support for sure.

You know what's so sad about Viet? He keeps hammering on how China is pushing Vietnam to Japan or USA camp and whether we can afford to do so. Vietnam does not have a choice but to stay on good terms with China. Vietnam does not want to lose the Russian friendship nor is she willing to allow hosting a military base for the Americans. The only thing he can do is trying to call his bluff on China. Unfortunately it doesn't work, Japan has already succumbed to China when Abe admitted there's a dispute in order to meet Xi and restore Sino-Japanese relations which took a dive after his mistake of "nationalizing" Diaoyu island. You should have seen that Vietcong was totally convinced China needs Japan more than vice versa. Chinese factory workers out of work and Japanese companies moving out of China to Vietnam :rofl:
These Vietcongs are full of delusions, one dreams about the sub mekong and the other dreams about a join coalition with Japan/USA to contain China and fantasizing about the donation of Arleigh Burke Destroyers from uncle Sam. These Viets are full of sh*t :lol:
 
You know what's so sad about Viet? He keeps hammering on how China is pushing Vietnam to Japan or USA camp and whether we can afford to do so. Vietnam does not have a choice but to stay on good terms with China. Vietnam does not want to lose the Russian friendship nor is she willing to allow hosting a military base for the Americans. The only thing he can do is trying to call his bluff on China. Unfortunately it doesn't work, Japan has already succumbed to China when Abe admitted there's a dispute in order to meet Xi and restore Sino-Japanese relations which took a dive after his mistake of "nationalizing" Diaoyu island. You should have seen that Vietcong was totally convinced China needs Japan more than vice versa. Chinese factory workers out of work and Japanese companies moving out of China to Vietnam :rofl:
These Vietcongs are full of delusions, one dreams about the sub mekong and the other dreams about a join coalition with Japan/USA to contain China and fantasizing about the donation of Arleigh Burke Destroyers from uncle Sam. These Viets are full of sh*t :lol:
i totally understand their nationalism but why bring it out every time in geopolitical discussions.... :hitwall::hitwall::hitwall:
it's so difficult to have meaningful discussions with Viets here...:(
 
i totally understand their nationalism but why bring it out every time in geopolitical discussions.... :hitwall::hitwall::hitwall:
it's so difficult to have meaningful discussions with Viets here...:(

Very true, you just have to look how many negative Chinese topics they like to start here in PDF compared to how many threads Chinese members create about Vietnam. That alone says enough how obsessed they are about their giant neighbor from the North. Trust me you cannot reason with them despite they claim they have high IQ comparable to East Asians. They see us as mortal enemies :lol: , after ruling them for over a thousand years i don't blame them for fearing China yet they like to convince everyone here they took down the French/Japanese/Chinese and Americans with this thumb :tup:. :disagree:
 
I think only a Vietnam member Viet is reasonable.
BQ77 is not that bad..
Other guys like Eastsea, niceguy are totally mad with only hate in their mind

i totally understand their nationalism but why bring it out every time in geopolitical discussions.... :hitwall::hitwall::hitwall:
it's so difficult to have meaningful discussions with Viets here...:(
 
Back
Top Bottom