Chinese Yuan Beats Euro To Become the Second Most Used Currency

[nahtanbob]

They still have printing machines in their backyards working non stop. Rednecks print dollar out of thin air. Even in Afghanistan they had a printing machine used to print Afghani-dollar.

To remove this colonial cancer from global transactions, a great alliance between countries is needed.

you are free to conduct commerce without USD
you can start by accepting Pakistani rupees and Afghanistan Afghani

Let us know how it works out

 

[LeGenD]

Like what?

Take Apple for example. Do you think that only China is benefiting from its sales?

Apple is but one of the American brands in a long list.

 

[Beijingwalker]

Yes, but IMF has pointed out the bigger picture that I have posted already.

One nontraditional reserve currency gaining market share is the Chinese renminbi, whose gains match a quarter of the decline in the dollar’s share. The Chinese government has been advancing policies on multiple fronts to promote renminbi internationalization, including the development of a cross-border payment system, the extension of swap lines, and piloting a central bank digital currency. It is thus interesting to note that renminbi internationalization, at least as measured by the currency’s reserve share, shows signs of stalling out. The most recent data do not show a further increase in the renminbi’s currency share: some observers may suspect that depreciation of the renminbi exchange rate in recent quarters has disguised increases in renminbi reserve holdings. However, even adjusting for exchange rate changes confirms that the renminbi share of reserves has declined since 2022.

China doesn't want to let Yuan fully convertible now, not yet, cause China worries yuan could be manipulated by hostile foreign speculators. for now dollar is still useful for China, but China always has plan B up its sleeve, but China is not in a hurry like Russia,

 

[LeGenD]

China doesn't want to let Yuan full convertible now, not yet, cause China worries yuan could be manipulated by hostile foreign speculators. for now dollar is still useful for China, but China always has plan B up its sleeve, but China is not in a hurry like Russia.

Yes, this is correct. There are pros and cons to global reserve currency market share. China does not want its currency to be used like USD because it does not suit its economic system and considerations.

 

[Beijingwalker]

Take Apple for example. Do you think that only China is benefiting from its sales?

Apple is but one of the American brands in a long list.

Apple is easily replaceable, I mean the product , not the name of the brand.

I actually think US may have more trouble to make Apple products alone than China does.

 

[LeGenD]

Apple is easily replaceable, I mean the product , not the name of the brand.

I actually think US may have more trouble to make Apple products alone than China does.

View attachment 64240

Infographic: iPhone Components Are Developed All Over the World

This chart shows where the different components from an iPhone 13 Pro were designed.

www.statista.com

Each and every country involved in the supply chain benefits from sales of Apple products. This is economics 101.

 

[Beijingwalker]

Infographic: iPhone Components Are Developed All Over the World

This chart shows where the different components from an iPhone 13 Pro were designed.

www.statista.com

Each and every country involved in the supply chain benefits from sales of Apple products. This is economics 101.

Post in thread 'Apple adds suppliers in China despite efforts to spread out production, underscoring country’s major supply chain role'

Aug 23, 2024

Apple Adds 8 Suppliers in China; Why? 50% India-Made iPhones “Not Good Enough”

Apple is adding more suppliers in China despite efforts to diversify its supply chain. India is emerging as a new player but faces challenges with high defect rates.

www.macobserver.com

• Beijingwalker

Apple had dropped out of top 5 phone sales in China, the world biggest phone market by a huge margin, could be the beginning of the end for apple.

 

[Beijingwalker]

 

[LeGenD]

Post in thread 'Apple adds suppliers in China despite efforts to spread out production, underscoring country’s major supply chain role'

Aug 23, 2024

Apple Adds 8 Suppliers in China; Why? 50% India-Made iPhones “Not Good Enough”

Apple is adding more suppliers in China despite efforts to diversify its supply chain. India is emerging as a new player but faces challenges with high defect rates.

www.macobserver.com

• Beijingwalker

Apple had dropped out of top 5 phone sales in China, the world biggest phone market by a huge margin, could be the beginning of the end for apple.

Mate, Apple is doing very well in China.

IPhone sales surge in China is not just commercial success: Global Times editorial - Global Times

www.globaltimes.cn

 

[Beijingwalker]

Mate, Apple is doing very well in China.

IPhone sales surge in China is not just commercial success: Global Times editorial - Global Times

www.globaltimes.cn

 

[LeGenD]

View attachment 64241

Sales volume continue to fluctuate. There might be increase in sales of products from other brands but Apple continues to hold its own in the business around the world. Also, Apple is not for everybody but high class.

 

[Beijingwalker]

Sales volume continue to fluctuate. There might be increase in sales of products from other brands but Apple continues to hold its own in the business around the world. Also, Apple is not for everybody but high class.

Apple must thank China, but Chinese phones will certainly outcompete apple, because competition helps make better products, China has dozens of equally good phone makers.

 

[LeGenD]

Apple must thank China, but Chinese phones will certainly outcompete apple, because competition helps make better products, China has dozens of equally good phone makers.

View attachment 64242

Yes, China provides business to Apple and deserve recognition for its contribution in this matter. No one doubts it.

However, I disagree with the "outcompete" claim because Apple has its own ecosystem that offer its own benefits and value to customers around the world. Apple has no shortage of buyers, therefore.

Global Top 10 Best-Selling Smartphones: All From Apple, Samsung

One change: people are spending more for iPhones, with Apple’s pricy Pro line growing to represent half of all iPhone sales so far this year, up from just 24% in 2023.

www.forbes.com

Best selling smartphones - Counterpoint

This data represents the top 10 best-selling smartphones by quarter (from 2022-2023) which consolidates further to just Apple and Samsung.

www.counterpointresearch.com

I will buy Apple as well when I have funds.

 

[Beijingwalker]

Yes, China provides business to Apple and deserve recognition for its contribution in this matter. No one doubts it.

However, I disagree with the "outcompete" claim because Apple has its own ecosystem that offer its own benefits and value to customers around the world. Apple has no shortage of buyers, therefore.

Global Top 10 Best-Selling Smartphones: All From Apple, Samsung

One change: people are spending more for iPhones, with Apple’s pricy Pro line growing to represent half of all iPhone sales so far this year, up from just 24% in 2023.

www.forbes.com

Best selling smartphones - Counterpoint

This data represents the top 10 best-selling smartphones by quarter (from 2022-2023) which consolidates further to just Apple and Samsung.

www.counterpointresearch.com

I will buy Apple as well when I have funds.

Relative to its own domination in the past

Apple sales fall in nearly all markets

The tech giant says demand for its smartphones fell more than 10% in the first three months of the year.

www.bbc.com

 

[Beijingwalker]