Why should the RMB be included in the SDR basket?

[TaiShang]

You are making a good joke of Chinese people on this forum by giving your stupid arguments.

In fact, you are making a bad impression of Indian people on this forum by claiming that FDI accounts for a greater % of India's GDP than China's ignoring the fact that India's GDP is a fraction of China's. In response, he gives you this:

China FDI in 2014: $128 billion
India FDI in 2014: $35 billion

Ratio of 6.5 to 1

And this:

Chinese forex reserves: $3.8 TRILLION
Indian forex reserves: $300 billion

You seem to try to make it a personal name calling while your opponent brings about hard figures.

 

[xunzi]

Go & check IMF projections for growth rate of China & India. We are growing at higher rate than China in all future years for which projections are made.

Stay humble. LOL

Don't the count the eggs before it hatches.

 

[Beidou2020]

China's Net National Wealth: $21.4 TRILLION
India's Net National Wealth: $3.6 TRILLION

National wealth - Wikipedia, the free encyclopedia

6 to 1 ratio

------------------------------------------------------------------------------------------------------------------------------

China's External Financial Assets: €10.5 TRILLION
India's External Financial Assets: €1 TRILLION

List of sovereign states by external assets - Wikipedia, the free encyclopedia

10 to 1 ratio

------------------------------------------------------------------------------------------------------------------------------

China's Total Trade: $4.4 TRILLION
India's Total Trade: $0.85 TRILLION

International trade - Wikipedia, the free encyclopedia

5 to 1 ratio

 

[Beidou2020]

Some more indicators of China's lead over India:

• Agriculture GDP 2.7 times (Note: India has highest % of GDP on agriculture i.e. is an agrarian economy)
• Services GDP 4.3 times
• Overall GDP 5.1 times
• Merchandise exports 7.1 times
• Industrial GDP 8.4 times
• Forex reserves 11.1 times
• High-technology exports 33.6 times
• Over 124 countries have China as largest trading partners.
• ....

List of countries by GDP sector composition - Wikipedia, the free encyclopedia
List of countries by foreign-exchange reserves - Wikipedia, the free encyclopedia
Merchandise exports (current US$) | Data | Table
High-technology exports (current US$) | Data | Table
Why is India losing the competitiveness race? | beyondbrics
AP IMPACT: China overtaking US as global trader


India overtaking China? YOU WISH

We believe in fair trade & do not manipulate our currency or force people to use our currency.

India has nothing to trade

In fact, you are making a bad impression of Indian people on this forum by claiming that FDI accounts for a greater % of India's GDP than China's ignoring the fact that India's GDP is a fraction of China's. In response, he gives you this:



And this:



You seem to try to make it a personal name calling while your opponent brings about hard figures.

India is a lightweight compared to China.

 

[Edison Chen]

China can never have full capital account convertibility. Your government is too scared to lose control.

China will open capital account this year. I will not forget to tag you when the news is released

 

[Beidou2020]

• 
  
  Thats history. I am talking about future. Go & check IMF projections or any other projection done by reputed firms.

Coulda, woulda, shoulda.
Typical Indian

When you achieve it, then come talk kid.

 

[ahtan_china]

We believe in fair trade & do not manipulate our currency or force people to use our currency.

Don't complain this. It is up to your India's ability.

 

[Beidou2020]

China will open capital account this year. I will not forget to tag you when the news is released

He will be banned before the end of the year, I can assure you.

 

[mike2000 is back]

As highlighted the yankies PLUS Japan will vote down the proposal
and our Capital Account is yet fully convertible

Time for the die-hard Chinese Japan-worshippers to cheer for when this happens

Clay-figurine Zhang, Tianjin

From the article :' it will mean an official IMF endorsement of the renminbi as an international currency, even if the renminbi has yet to achieve the goal of free convertibility and the capital account is yet to open completely.'

As you can see U. S and Japan opposition is secondary. Your Yuan is still not freely convertible and your capital account is still closed to the outside World. Those are the two main criteria for including a currency in SDR. so as far as you don't meet those criteria, your currency will never be included in SDR.
YOU can't eat your cake and have it bro. you have to make some sacrifices (opening up your capital market /currency convertibility) to gain other things.
That's why only the dollar, our currency, the yen and Euro are included for now, since we all meet those criteria.

 

[TianyaTaiwan]

Indians seems to like to talk about tomorrow or future.

 

[Beidou2020]

Indians seems to like to talk about tomorrow or future.

Because the present is hard for them to swallow as I have shown

 

[Beidou2020]

There will be more state controls as China will have a financial crisis this year.

Coulda, woulda, shoulda.
Typical Indian

 

[mike2000 is back]

Thats your opinion not fact. India is less state controlled economy. Now Indian economy is more or less fully open to foreign investors & many are planning to set up industries here.

Forget about what happened in past. In future we will consistently grow at a rate higher than China & close the gap and may eventually even overtake China.

Calm down man, many have already been making these predictions for a long time now. Just let things unfold.

 

[Beidou2020]

Yes we will talk about that in future. But why are Chinese talking about RMB getting included in SDR basket. Talk when it is included.

Because RMB inclusion in the SDR will be decided just in 4 months from now and the IMF team already arrived in China to discuss whether to include it

RMB inclusion in the SDR this year is a high probability while India overtaking China in all the figures I showed is an impossibility

Calm down man, many have already been making these predictions for a long time now. Just let things unfold.

Let him go, I love humiliating these little Indians. It makes PDF so much fun

 

[Beidou2020]

China does not have capital account convertibility so cannot be included. People from IMF may be on vacation in China to make you people happy.

When & How did you show that India cannot overtake China.

IMF will decide whether RMB is included, not you

Where and how? I've been explaining throughout this thread to you exactly why India will never overtake China and now you are asking. Haven't you been paying attention kid?