Is Pakistan going to replace Rupee with Yuan? Does it makes sense?

[JohnSnow]

Seems like Pakistan's talk will IMF will be a failure in next round as well. Conditions are so strict that if accepted PTI's government will not be able to deliver on a single promise he made to people of Pakistan. Imran Khan might as well pack his bags and end his government if he agrees to the terms of IMF.

Secondly, Asad Umar repeatedly said that government will not intervene in to State Bank's monetary policy. So they care less what markets to do the currency or the interest rates within Pakistan. In a ideal economy, that is the way it suppose to be but we are living in desperate times.

On the other hand, Chinese investments, loans and deposits in Pakistan are shifting the power equilibrium in Beijing's favor with every single day that passes. Although Americans bought Pakistani influence for decades but they never invested in to Pakistan in such a way where they could own major chunk of Pakistan's economy or national assets.

China is literally holding the cards which US never imagined to hold on Pakistan. Ultimately if we don't get our act right, it is quite possible that very soon Chinese companies will start take over of major part of Pakistan's economy.

Have we lost it all? And will it be any beneficial if we replace our rupee with Chinese yuan and let Beijing control our monetary policy?

Like there is an old saying, if you can't beat them, just join them!!!

 

[Nightcrawl]

Nope looted money is coming back wait and see rupee will regain.

 

[imran_hosein_fan]

instead make rupee backed by gold reserves and rupee will automatically rise!

 

[islamabadi]

According to the CPEC agreements......China was supposed to establish SEZ Special Economic Zones along the CPEC route where Chinese companies were supposed to relocate industries and this was supposed to generate export revenue and taxes from which CPEC loans were to be paid off. In addition....hundreds of container traffic was supposed to generate about 500 million dollars a year in road toll tax for us in the future. As of today NOT A SINGLE SEZ (Special eco zone) is Operational. Not a single chinese manufacturer is relocating their manufacturing industry. We brought this government to do things differently from the previous one but Is this government taking this up with the chinese? or are they mute spectators and only going to Beijing for loans?

 

[Tony Tony]

Yes we can............... and also change the name of our country to "Bhikari Republic of China"

 

[JohnSnow]

According to the CPEC agreements......China was supposed to establish SEZ Special Economic Zones along the CPEC route

But when Chinese companies invest money in Pakistan they will send their profits back to their headquarters in China. It is nothing like indigenous startups.

Also I can't name a single country who prospered based on a toll road or toll waterway.

 

[JohnSnow]

instead make rupee backed by gold reserves and rupee will automatically rise!

And where will the gold come from?

 

[Raiwind-Destroyer]

Yes we can............... and also change the name of our country to "Bhikari Republic of China"

 

[thinking]

No way.. Pakistan just need to go through this short financial period..after that things will going better.Pakistan will gradually.made his reserve in Gold.Yuan..others currencies Instead of $$... All future trade with China will be in thiers own currency..... means Pakistan 50% imports will in Yuan...not in $$ in future.....What is likely to seems...$$ will decrease it's value in coming years....bcoz $$ dominant in the world is not backed by hard money..like in Gold..Diamond..or else..It's all on papers.....but being super power..USA made it's currency dominant by way of force..Which is not natural..

 

[insouciant]

No way.. Pakistan just need to go through this short financial period..after that things will going better.Pakistan will gradually.made his reserve in Gold.Yuan..others currencies Instead of $$... All future trade with China will be in thiers own currency..... means Pakistan 50% imports will in Yuan...not in $$ in future.....What is likely to seems...$$ will decrease it's value in coming years....bcoz $$ dominant in the world is not backed by hard money..like in Gold..Diamond..or else..It's all on papers.....but being super power..USA made it's currency dominant by way of force..Which is not natural..

:oops::oops::oops::oops::oops:

You are funny. I hope you were actually not serious with the recommendations you have suggested. :LOL::LOL::LOL::LOL: If you are, I hope you never intend to work in fiscal/monetary policy space. That'll be a doomsday scenario! :tensionfemale::tensionfemale:

 

[Tony Tony]

No way.. Pakistan just need to go through this short financial period..after that things will going better.Pakistan will gradually.made his reserve in Gold.Yuan..others currencies Instead of $$... All future trade with China will be in thiers own currency..... means Pakistan 50% imports will in Yuan...not in $$ in future.....What is likely to seems...$$ will decrease it's value in coming years....bcoz $$ dominant in the world is not backed by hard money..like in Gold..Diamond..or else..It's all on papers.....but being super power..USA made it's currency dominant by way of force..Which is not natural..

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Wishing is great..........But never take your eyes off the Facts.
You have said 50% of our trade with China will be in Yuan. Question: Where this 50% will come from please? from Exports to China??? or you planning to Print Yuan in Pakistan :)
-------------------------------------------------------------------------------------------
Here are the facts:
Trade balance tilts further in Beijing’s favour
2017-2018 Data
China, the largest trade partner of Pakistan, has further increased its exports to $11.458bn; an increase of $1.381bn compared to FY17.
However, exports to China increased by just $120 million to $1.744bn, creating a trade gap of $9.7bn which accounts for over 30 per cent of the overall trade deficit of the country.
------------------------------------------------------------------------------
2016-2017 Data
Exports to China shrank to $1.62 billion in 2016-17 from $2.69bn in 2013-14. Imports from China, in contrast, grew to $10.53bn in 2016-17 from $4.73bn in 2012-13, an increase of 123pc.
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According to latest 2018 Data.........Our exports were $1.744 Billion
Also per te latest 2018 Data............Our Imports were $11.45 Billion
Net Deficit is $9.7 Billion................... meaning you have only 15% to pay in Yuan
You have to pay rest 85% in US dollars as no other country will take money in any other Currency but US dollars......where did you get 50%???? from Fuddo or Assad Umar??
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That is what i have pointed out numerous times to PTI Jusbati workers to refrain from Fuddo Choddi type claims (Rs 55 / KM helicopter flights).
I always say................... you can research also like I do to get the facts before claiming something not factual.

 

[asadqudsi]

The only way out of the mess for Pakistan is to increase the productivity of its people in the long run. The short term gimmicks are not going to work. Even if oils starts to flow from every 'hole' the nation will not see prosperity. Half the population does not work, each working hand supports 8-9 lazy bastards. Planning and thinking about future is a sin in our mindset. IK is trying his best but all he will be able to achieve is to slow the decline and downfall. Haramkhori and ayasi ham ne chodni nahi hain. Tawaif ki tara ke nakhrain hain hamari elite or upper middle class ka.

 

[islamabadi]

But when Chinese companies invest money in Pakistan they will send their profits back to their headquarters in China. It is nothing like indigenous startups.

Also I can't name a single country who prospered based on a toll road or toll waterway.

They can send their profits...all multinationals do...but first (1) they will be generating employment for local people (supposedly by the thousands) then (2) increasing our industrial base....(3) Generating export receipts for the country....(4) paying taxes in this country.....and only then repatriating any profits to china. The toll tax was supposed to pay for the loans we took out on the roads built by the chinese....its as if the roads would pay for itself from tolls generated by container traffic....

 

[islamabadi]

:oops::oops::oops::oops::oops:

You are funny. I hope you were actually not serious with the recommendations you have suggested. :LOL::LOL::LOL::LOL: If you are, I hope you never intend to work in fiscal/monetary policy space. That'll be a doomsday scenario! :tensionfemale::tensionfemale:

No he was serious ! There are many of his types who cant wait to crash the dollar overnight

 

[JohnSnow]

:oops::oops::oops::oops::oops:

You are funny. I hope you were actually not serious with the recommendations you have suggested. :LOL::LOL::LOL::LOL: If you are, I hope you never intend to work in fiscal/monetary policy space. That'll be a doomsday scenario! :tensionfemale::tensionfemale:

Some African countries replaced their currency and started using dollar as their currency. When you have a country that is going bankrupt and drowning in debt up to your eye-balls, ultimately you will have to hand over your fiscal/monetary policy.

I hope it doesn't happen but there is always a possibility when we can't get our shit together.

 

[JohnSnow]

They can send their profits...all multinationals do...but first (1) they will be generating employment for local people (supposedly by the thousands) then (2) increasing our industrial base....(3) Generating export receipts for the country....(4) paying taxes in this country.....and only then repatriating any profits to china. The toll tax was supposed to pay for the loans we took out on the roads built by the chinese....its as if the roads would pay for itself from tolls generated by container traffic....

Egypt's swez Canal was much more important project than this CPEC. If that couldn't change fate of Egyptians than how in the world CPEC will help you?

2ndly, a country who can't stand up on it's two feet and manufacture something to export, will have no chance no matter how many Chinese companies come to Pakistan.

As far Imran Khan he is becoming a coward like Musharraf, he is still trying to learn the rope. He would rather slap tax on louzy mobile phones than to hold accountable all big traders, whole-sellers, property dealers and property investors and many others like them who never pay a dime in taxes.

Even a KARYANA-STORE owner makes around 1-3 lac per month and pay shit in taxes. Even fruit-sellers makes 4-5000 per day with no rent or bills for his business. Still pay zero income tax.

Like President PUTIN said about Pakistan, this country has no chance where whoever has little money leaves Pakistan and they only come back to Pakistan when it's time to die.

 

[thinking]

------------------------------------------------------------------------------------------
Wishing is great..........But never take your eyes off the Facts.
You have said 50% of our trade with China will be in Yuan. Question: Where this 50% will come from please? from Exports to China??? or you planning to Print Yuan in Pakistan :)
-------------------------------------------------------------------------------------------
Here are the facts:
Trade balance tilts further in Beijing’s favour
2017-2018 Data
China, the largest trade partner of Pakistan, has further increased its exports to $11.458bn; an increase of $1.381bn compared to FY17.
However, exports to China increased by just $120 million to $1.744bn, creating a trade gap of $9.7bn which accounts for over 30 per cent of the overall trade deficit of the country.
------------------------------------------------------------------------------
2016-2017 Data
Exports to China shrank to $1.62 billion in 2016-17 from $2.69bn in 2013-14. Imports from China, in contrast, grew to $10.53bn in 2016-17 from $4.73bn in 2012-13, an increase of 123pc.
-------------------------------------------------------------------------
According to latest 2018 Data.........Our exports were $1.744 Billion
Also per te latest 2018 Data............Our Imports were $11.45 Billion
Net Deficit is $9.7 Billion................... meaning you have only 15% to pay in Yuan
You have to pay rest 85% in US dollars as no other country will take money in any other Currency but US dollars......where did you get 50%???? from Fuddo or Assad Umar??
-------------------------------------------------------------------------
That is what i have pointed out numerous times to PTI Jusbati workers to refrain from Fuddo Choddi type claims (Rs 55 / KM helicopter flights).
I always say................... you can research also flike I do to get the facts before claiming something not factual.

I knew these facts..very well...but you know when your even Gold made home eats inch by inch by Demak.Gidh mafia of Politician like Nawaz. Zardari..you can't save your Gold made home ....IK will never dig holes in his own home and made billions properties in abroad for his children like Nawaz..Zardari was doing since last 30 years..that's why I always on watching nd believe on my wish list.. while you peoples who were nd are with Murdar Khoor Gidh Nawaz.. Zardari..Altaf..Molvi Diesel.Afand.Achakzae..dont understand that why we wishing a bright future of Pakistan..In Shaa Allah...I never mind if you keep standing with traitors..Gidh like Nawaz.. Zardari and others...I understand your mentallity..I lived with the friends who still support Proved chorr corrupt mafia family of Nawaz.. Zardari...I only pray to Allah swt for you to get little wisdom to see the truth..as I praying for my close friends..But if you are belong to Cow Piss Drinker country.. then please ignore my above all comments....

 

[Tony Tony]

I knew these facts..very well...but you know when your even Gold made home eats inch by inch by Demak.Gidh mafia of Politician like Nawaz. Zardari..you can't save your Gold made home ....IK will never dig holes in his own home and made billions properties in abroad for his children like Nawaz..Zardari was doing since last 30 years..that's why I always on watching nd believe on my wish list.. while you peoples who were nd are with Murdar Khoor Gidh Nawaz.. Zardari..Altaf..Molvi Diesel.Afand.Achakzae..dont understand that why we wishing a bright future of Pakistan..In Shaa Allah...I never mind if you keep standing with traitors..Gidh like Nawaz.. Zardari and others...I understand your mentallity..I lived with the friends who still support Proved chorr corrupt mafia family of Nawaz.. Zardari...I only pray to Allah swt for you to get little wisdom to see the truth..as I praying for my close friends..But if you are belong to Cow Piss Drinker country.. then please ignore my above all comments....

As expected, those facts and data were too much for your little brain to handle......... when you have said 50% will be paid in Yuan....I should have known that I am talking to an illiterate swearing lover, hate this-hate that, PTI commoner.................. Here we were talking about Data and facts and you started famous PTI Chor Dako talk............. :) Stay where you belong man.