New Chinese Banknotes 2019 - Coin Community Forum

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Author	Replies: 7 / Views: 2,388
augsburger Pillar of the Community Germany 1062 Posts	Posted 04/29/2019 02:06 am No 5 kuai note though. Maybe next year. Surprising to see them bothering with the 1 kuai note. And also surprising that they don't make a note larger than the 100 kuai. Report this Post to the Staff

redlock Pillar of the Community Germany 992 Posts	Posted 04/29/2019 02:27 am Quote: And also surprising that they don't make a note larger than the 100 kuai. I am not surprised. China's Communist Party wants total control of the people. Cash stands in the way of that. Therefore, they need to make payments, especially larger payments, in cash impossible or at least difficult so that people have to use electronic methods. Of course, these are easy to control and monitor. Just as the Party likes it. Report this Post to the Staff
augsburger Pillar of the Community Germany 1062 Posts	Posted 04/29/2019 02:37 am Quote: I am not surprised. China's Communist Party wants total control of the people. Cash stands in the way of that. Therefore, they need to make payments, especially larger payments, in cash impossible or at least difficult so that people have to use electronic methods. Of course, these are easy to control and monitor. Just as the Party likes it. Yes, but I'm not sure this is necessarily about control. Electronic payments are exceedingly high now. Some shops are a little surprised when you go to pay in cash. I think that China will be one of the first countries in the world to switch totally to electronic payments at some point. But the reality is that people are moving huge blocks of money around, and it's rather ridiculous. However in the natural home of faking things, I guess they'd think that anything above 100 kuai makes it so much easier to get away with faking things, thereby reducing the legitimacy of the party. Report this Post to the Staff
Carrigna Valued Member United States 413 Posts	Posted 04/29/2019 09:54 am It appears that China is saying they are still considering or claiming Tibet as part of their nation based on their new 50 yuan note. I wonder how Tibetans would take that. This is the first time China has publicly printed something like this in their currency. I believe that is Lhasa Dzongkha? Formerly Tibetan government centre and home of Dali Lama. Maybe Tibetans will not take 50 yuan notes insisting on other notes? Out of curiosity, why is China changing their coins and banknotes now? Edited by Carrigna 04/29/2019 1:49 pm Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21786 Posts	Posted 04/29/2019 10:33 am The Chinese don't want to have their population using cash. That is why the notes have small buying power. They want to track everybody with electronic payment. Keep corruption at the very top level. And to think: I recently bought a car for $22,000, paying cash in $100 bills, because I could get it $3,000 cheaper! (Mercedes E55 AMG, with less than 60,000 miles) - All legit, from a registered and licensed dealer. Edited by sel_69l 04/30/2019 01:48 am Report this Post to the Staff
Greasy Fingers Pillar of the Community United States 7001 Posts	Posted 04/29/2019 12:46 pm This post is one of the many reasons I enjoy this site..Educational discussions and history to boot..Control and over-site of elect. transfer..Humm Report this Post to the Staff
Carrigna Valued Member United States 413 Posts	Posted 04/29/2019 1:49 pm @ Greasy Fingers, well-said about the CCF! Report this Post to the Staff
augsburger Pillar of the Community Germany 1062 Posts	Posted 04/29/2019 9:25 pm Quote: It appears that China is saying they are still considering or claiming Tibet as part of their nation based on their new 50 yuan note. I wonder how Tibetans would take that. This is the first time China has publicly printed something like this in their currency. I believe that is Lhasa Dzongkha? Formerly Tibetan government centre and home of Dali Lama. Maybe Tibetans will not take 50 yuan notes insisting on other notes? Out of curiosity, why is China changing their coins and banknotes now? Oh, the Chinese will never give up Tibet. And no one will be able to stop them, their military is too strong now. Foreigners need a permit to go to Tibet, even if they have a visa for China itself. The reality for the Chinese is "Taiwan is Chinese, because it's always been Chinese." "Tibet is Chinese because it's Chinese". Literally they can make an argument for Taiwan based on history, which totally undermines their argument for Tibet, but it doesn't matter, as you're not allowed to talk about it openly anyway. I spoke to a Chinese work colleague about this kind of thing and the response was "How dare you talk to a Chinese person like this?" Because they know their only way to be right, is to simply force people to accept their way. China is trying to buy enough support in the UN to make an invasion of Taiwan "legitimate" (learned from the Americans in 2003), and yet when the UN ruling on the South China Seas went against the Chinese, they simply ignored it. The world is going downhill right now. Report this Post to the Staff
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