Is China Floating a China-Euro Currency Bloc?

06/04/201514 Comments

In today's thought for the day James discusses an editorial from The Global Times about China's upcoming inclusion in the IMF's SDR basket. Is China sending up a trial balloon for the idea of deeper Chinese-European monetary integration, and if so what would this mean for the ongoing creation of the new monetary world order?

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  1. mammique says:

    Interesting. Thanks James. Yes indeed China seems to be on the side of Euro. When Soros was speculating against Greece at the beginning of the debt crisis, he took speculative positions at 1 USD = 1 EUR, but he could never meet that goal because China was buying lots of EUR to support the exchange rate against USD. I heard that in a conference by Myret Zaki, vice-director of financial Swiss magazine Bilan, at the end of 2011.

  2. jamesthethird says:

    Interesting. Driving in to my local town on the express way I noticed a change.
    It use to be a panorama of the countryside. Now there is this enormous building centered on your vision.
    Our local town has a small population of around eight thousand and a sparsely populated agricultural region surrounding it. This new business in town is Chinese. It should be up and running next year processing milk in to powder for the Chinese market. Yes the area around here where the cows feed is clean compared to those milk production areas in China that suffered terrible contamination a few years back. I presume a lot of its production will be for baby milk.
    The job market around here has been depressed for quite a while. Now we have quite a few Chinese in town bringing the locals hope of maybe a chance of a living wage. I sense there is a thumbs up for them because they are bringing what one might say, local jobs that produce things in comparison to the European philosophy of financial markets to make money. They are not going to disappear over night like others would when the market takes a downturn. The Chinese are already here getting ready to run their business in Euros.
    The acorns are already being planted.

  3. jamesthethird says:

    Other Chinese businesses may follow. Nothing signed yet but it looks on the cards. This was in the papers last month
    The Mayor Troadec is a man to watch.He got the Chinese investing here. He has ambitions. He is an independant, left leaning according to the locals but is not affiliated to the Partie Socialiste. He’s a regionalist. But wait for this one. He’s aiming to stand for President at the next election. Where does he get his backing?
    A little more here.
    The Bonnet Rouge movement has grown up over the the last three years and you may have seen some of the demos in the media over the last year. It seems the aim is regionalisation.
    I like this man because he mixes in. Aloofness does not exist in his vocabulary. But I do wonder.

  4. nosoapradio says:

    While I was listening to you – against all reason my heart was saying “oh yes, please please please let China join the European block”.

    This was against all reason as I spend much of my free time posting links about China’s proposed “social credit system”, links supporting the idea that the BRICS are a Western construct, and other links trying to demonstrate that China and Russia are not saints (I also spend my time linking your “The Great Decoupling” and more recently your technocracy interview with Mr Wood).

    So I guess I should be able to identify with all those die-hard socialists out there who are painting China and Russia up to be the saviors of humanity.

    Though I know it’s all just a transfer of centralized power over from a dollar-based militarized usurious system to a perhpas world currency micro-chipped usurious system, my heart jumped with hope that China would ally with Europe… I’m well conditioned…

    Anyhow, thanks again for the synthesized and insightful material.

    gotta get back into that hamster wheel now….

    • Corbett says:

      You make a good point, nosoapradio. The propaganda is effective because it does play on our hopes, and it does have a certain logic. If a monopolar, unitary superpower world is bad, then a multipolar, multilateral world must be good, right? Of course, that excludes the centralized and oligarchical nature of both systems, which is the real trick. They don’t ever want us imagining a world that is not presided over by centralized systems of control. We all catch ourselves dreaming of hope and change, it’s just a question of whether we can stop dreaming and start making it happen for each other rather than waiting for China and Russia to hand it to us from on high.

    • nosoapradio says:

      also I’d forgotten to link this article I’d seen from 2014 that says China controls the price of gold. For what it’s worth:

  5. mammique says:

    The fact that China sees itself as part of Eurasia doesn’t mean that it’ll be allowed to enforce that position. The anglo-american thalassocracy has work for centuries to contain, divide and conquer mainland Eurasia, I’m not sure TPTsnB would let it happen, not because they favor the anglo-american block, but because Eurasia might be too hard to control at that scale (Eurozone is already the world’s biggest market without China). Poutine and Beijing want a biggest slice of the cake, how far will they be allowed?

  6. jamesthethird says:

    When I talk to the locals about the Russian President, I use my ‘benefit of the doubt’ pronunciation trick and call him Putain. I get away with it because not only it is apt but I’m a foreigner.

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