China orders foreign banks to hold yuan

Is there any way an average Joe like me can short the Yuan?

Fizz: Of course.

shonanbb: A broker? Such as Nomura. On-line? ? ?

A broker should be able to do that.

I wish China would get its financial house in order ... 'cause it's spooking the rest of the world.

Let's see ... China began its economic rise around 1978 ... so it's been in the thick of things for only about 38 years. Perhaps it's still trying to get the feel of what it's like to be a super power economically. Anyway, the Chinese Communist leaders had better check out their system and see why it's not working properly.

Let's see ... China began its economic rise around 1978 ... so it's been in the thick of things for only about 38 years. Perhaps it's still trying to get the feel of what it's like to be a super power economically. Anyway, the Chinese Communist leaders had better check out their system and see why it's not working properly.

Edojin, let's see, they're following the leader, Japan. What do you expect?

Any piece of paper with a picture of Mao Tse Tung on it, is fools gold in my opinion. Eventually it will collapse.

Any piece of paper with a picture of Mao Tse Tung on it, is fools gold in my opinion. Eventually it will collapse.

I know this isn't the point of your post, Jay, but I too was disappointed to see that Mao Tse-tung's face had been put on every one of China's banknotes. The older ones, which you can still occasionally see in China, have pictures of China's ethnic minorities in their traditional dress and they look really nice. I made sure to take some back when I visited China. Got laughed at by a 7-11 cashier who couldn't understand why I wanted the paper mao when any modern nouveau-riche Chinese would prefer coins, but it was worth it!

What an ingenious idea, this will of course cause any bank which was thinking of opening a branch in China to reconsider, and it will cause any bank which is thinking of pulling out of China to do so immediately. It is fun to see governments shooting their economies in the foot, but then China isn't the only one to have done so recently.