Vietnam wary of plea to expand Chinese currency transactions

[Nice_guy]

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.

To add more, Vietnam's sovereign financial market may be manipulated if using Chinese yuan commonly. Still, Vietnam's economy is over reliance on China for trading, the use of CNY will be even worse the fact.

 

[Viet]

U r wrong, CNY is as unstable as Ruble. When the TPP deal come to reality, then many country including VN will stop buying China's products, then China economy will go down as fast as Russia economy now.

So, we simply say no to CNY.


Bcz its just a waste, and it will drop sharply when the TPP come to reality.

bro, you speculate sometimes on the stock market, right? I do as well.

you will lose money if you bet on sinking exports of china once TPP comes. More, the bilateral trades between Vietnam and China will increase. using VND-CNY will save money transaction cost. money is nothing more than a paper that holds a promise. CNY is stable and becomes increasingly important due to the size of chinese economy. the Ruble collapses because russian economy relies too much on exporting oil and gas in dollar currency. Just act pragmatic and keep economy out of politics a bit.

 

[Viet]

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.

bro, the suggestion is to make direct VND-CNY money transaction, not yuan to a official currency in Vietnam.

Do you have a dollar account at your bank? if yes, is the dollar a danger to our economy? No, obviously.
If you are a merchant, and sell/buy vietnamese/chinese goods, it is better to trade directly in domestic currency in the long term, instead of converting to dollar first. today, you have money accounts in dong and dollar. tomorrow, you add yuan. if you buy US goods, you pay in Dollar, for chinese goods, in Yuan.

giving you an example: as a small speculator on the stock market, I have money accounts at my broker: euro, dollar, sterling and yen. having a wide range options, I have more choices. If tomorrow my broker offers yuan money account, I will take the offer as I want to buy chinese stocks, directly in shanghai.

 

[NiceGuy]

bro, you speculate sometimes on the stock market, right? I do as well.

you will lose money if you bet on sinking exports of china once TPP comes. More, the bilateral trades between Vietnam and China will increase. using VND-CNY will save money transaction cost. money is nothing more than a paper that holds a promise. CNY is stable and becomes increasingly important due to the size of chinese economy. the Ruble collapses because russian economy relies too much on exporting oil and gas in dollar currency. Just act pragmatic and keep economy out of politics a bit.

when VN join the TPP deal, then there will be no more VN_ CN trade. Thats why VN govt. refuse using CNY.

 

[Viet]

when VN join the TPP deal, then there will be no more VN_ CN trade. Thats why VN govt. refuse using CNY.

bro, the government has yet to decide. in the article, an economist objects the idea. I think he has no idea on the matter. the discussion has just started.
who tells you when we join TPP, there won´t be no more trades with China? that is totally WRONG!

 

[NiceGuy]

bro, the government has yet to decide. in the article, an economist objects the idea. I think he has no idea on the matter. the discussion has just started.
who tells you when we join TPP, there won´t be no more trades with China? that is totally WRONG!

nothing wrong TPP is just like a sanction to Mr.Xi, and it will come to reality after US beat Mr Putin in Russia in Oil war. If VN follow Mr.Xi, then we will be kicked out of TPP and get US sanction.

 

[Viet]

nothing wrong TPP is just like a sanction to Mr.Xi, and it will come to reality after US beat Mr Putin in Russia in Oil war. If VN follow Mr.Xi, then we will be kicked out of TPP and get US sanction.

think a bit out of the box: we don´t need to pick US or China. No, we pick US and China.
we already have a free trade pact with China, soon with US. and very soon with Russia and Europe. you see, it is not what you think. Let the superpowers play their games, we play ours.

 

[NiceGuy]

think a bit out of the box: we don´t need to pick US or China. No, we pick US and China.
we already have a free trade pact with China, soon with US. and very soon with Russia and Europe. you see, it is not what you think. Let the superpowers play their games, we play ours.

We cant stand long in the middle of the cross fire. So , if CN dont support VN like before 1975, then we should side wt US to beat CN...and get back Guangdong-Guangxi after CN collapse.

Thats a much better choice.

 

[Viet]

We cant stand long in the middle of the cross fire. So , if CN dont support VN like before 1975, then we should side wt US to beat CN...and get back Guangdong-Guangxi after CN collapse.

Thats a much better choice.

niceguy, I sometimes wonder about your great fantasy. you are living a dream world.

To add more, Vietnam's sovereign financial market may be manipulated if using Chinese yuan commonly. Still, Vietnam's economy is over reliance on China for trading, the use of CNY will be even worse the fact.

if you have euro, you can buy european goods and services. if yuan, chinese goods and services. and so on.
the financial market cannot be manipulated just because Vietnam authority opens the stock exchange to foreign currency. by the way, the discussion is not about allowing VND-YCN on the stock market.

 

[hans]

You are right.
As Vietnam economy is so much relying on China, the usage CNY will make Vietnam even deep rely on China.
Yet for Vietnam economy, the usage of CNY will surely bring more benefit for Vietnam people & industry.
Your importing cost will be more stable and less impacted from USD changing...

It is a hard choice, a better economy with more rely on China or less dependence on China but worse economy..

bro, you speculate sometimes on the stock market, right? I do as well.
you will lose money if you bet on sinking exports of china once TPP comes. More, the bilateral trades between Vietnam and China will increase. using VND-CNY will save money transaction cost. money is nothing more than a paper that holds a promise. CNY is stable and becomes increasingly important due to the size of chinese economy. the Ruble collapses because russian economy relies too much on exporting oil and gas in dollar currency. Just act pragmatic and keep economy out of politics a bit.

He just know nothing about economy or military..
He only has hate inside his head...

niceguy, I sometimes wonder about your great fantasy. you are living a dream world.
if you have euro, you can buy european goods and services. if yuan, chinese goods and services. and so on.
the financial market cannot be manipulated just because Vietnam authority opens the stock exchange to foreign currency. by the way, the discussion is not about allowing VND-YCN on the stock market.

 

[Viet]

You are right.
As Vietnam economy is so much relying on China, the usage CNY will make Vietnam even deep rely on China.
Yet for Vietnam economy, the usage of CNY will surely bring more benefit for Vietnam people & industry.
Your importing cost will be more stable and less impacted from USD changing...

It is a hard choice, a better economy with more rely on China or less dependence on China but worse economy...

well, despite sea tension, the bilateral VN-CH trades still flourishes. from $2b (2000) to $60b (2014) and expected to be $100b (2017). the question is how we can close the gap in the bilateral trades? China is welcome to import more stuffs from Vietnam. If the usage of CNY brings more benefit for Vietnam, then I see litle reasons why we object it. the more the two countries interact and have mutual benefits, the lesser a confrontation arises.

China, Vietnam Set $100b Trade Goal for 2017

 

[Aepsilons]

bro, you speculate sometimes on the stock market, right? I do as well.

you will lose money if you bet on sinking exports of china once TPP comes. More, the bilateral trades between Vietnam and China will increase. using VND-CNY will save money transaction cost. money is nothing more than a paper that holds a promise. CNY is stable and becomes increasingly important due to the size of chinese economy. the Ruble collapses because russian economy relies too much on exporting oil and gas in dollar currency. Just act pragmatic and keep economy out of politics a bit.

To add, this year, the bilateral trade between China and Vietnam is nearing $60 Billion per annum.

You are right.
As Vietnam economy is so much relying on China, the usage CNY will make Vietnam even deep rely on China.
Yet for Vietnam economy, the usage of CNY will surely bring more benefit for Vietnam people & industry.
Your importing cost will be more stable and less impacted from USD changing...

It is a hard choice, a better economy with more rely on China or less dependence on China but worse economy..

The Vietnamese don't have to choose, what they're doing now is diversifying markets -- in their disposition for the TPP deal. In one hand, Vietnam is experiencing an incredible bilateral trade with China -- standing at $60 billion per annum. By joining TPP -- she will effectively boost her economy by tapping more into the markets of the United States, Japan, Australia, New Zealand et al.

the more the two countries interact and have mutual benefits, the lesser a confrontation arises.

Absolutely !

 

[frequency]

To add, this year, the bilateral trade between China and Vietnam is nearing $60 Billion per annum.



The Vietnamese don't have to choose, what they're doing now is diversifying markets -- in their disposition for the TPP deal. In one hand, Vietnam is experiencing an incredible bilateral trade with China -- standing at $60 billion per annum. By joining TPP -- she will effectively boost her economy by tapping more into the markets of the United States, Japan, Australia, New Zealand et al.



Absolutely !

When you trade with one partner at $60 bil/year is a huge risk. That's 30-35% of its GDP. Not good.

 

[Viet]

When you trade with one partner at $60 bil/year is a huge risk. That's 30-35% of its GDP. Not good.

why? VN import/export figure is $300b last year (2014), this year expected to be $330b at least.
trades with China expected to reach $100b in 2017. if tension eases, trade will most likely explode.

 

[Aepsilons]

When you trade with one partner at $60 bil/year is a huge risk. That's 30-35% of its GDP. Not good.

You thank that's huge? Bilateral trade between Japan and China is nearing $400 Billion per annum. Its called integration of markets, a reality in market economics.

lol

why? VN import/export figure is $300b last year (2014), this year expected to be $330b at least.

Vietnam has the potential to become a Tiger Economy, I don't know why there are so many ultra-nationalists among your flock who would jeopardize this reality for the sake of some irrational hatred towards China.