from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. Currency symbol for the renminbi.
- Roadside mailbox; a post box system used in rural areas where several houses collect their mail from a cluster of mailboxes at the roadside.
- Royal Marine Base.
- Right Mouse Button.
- Renminbi, yuan.
Sorry, no etymologies found.
The interview I read posited that the RMB is actually like a commodity, which I took to mean that affluent Chinese basically think about their net worth in dollars.
Some of the 4 trillion RMB is supposed to come not from the central government but from local and provincial authorities, who have no obvious way to raise it during a recession.
Again, like all currency, the value of the RMB is based on money supply and demand for it.
Yes, the RMB is now undervalued against the dollar.
You can cry that the RMB is undervalued all you want, but truth is, if the RMB was actually convertible, it’s value would FALL, not RISE.
To be clear: The RMB is now undervalued, and the Chinese government is artificially slowing the currency’s inevitable rise.
Chinese iTunes-style p2p p2p news/p2pnet: "So while Baidu’s getting sued over its music downloads, the Chinese MP3 maker Aigo has launched a pay download site inspired by iTunes, but at 1/8th the price since it is denominated in RMB," posts Joel Martinsen on Danwei.
I should mention that I am one of the lucky volunteers to be in a city that actually has several Starbucks I could go to, but it would involve a 30 – 45 minute bus ride in the chaos known as Chongqing traffic, not to mention a latte costs around 30 RMB, which is essentially my living allowance per day.
Q Did you foresee some potential possibilities for working cooperation with China in terms of dealing with the current financial crisis, and do you care to comment about the Chinese -- are not evaluating the RMB, which is the Chinese currency?
What's more, FDIC insurance doesn't protect you against the possibility that your investment in RMB, which is essentially what you are doing, will lose money.
Wordnik is becoming a not-for-profit! Read our announcement here.