you got it wrong dude, Australia's dollar is higher. 1 Hong Kong dollar = 0.128151 U.S. dollars 1 Australian dollar = 0.9599 U.S. dollars see the big difference?
I must have caught short term amnesia because I have no recollection of said comment (that AUS was lower than HKD). I did, however, said that the GDP per capita of Australia is lower than that of Hong Kong. Which is an entirely different thing. Case in point being Japan... 1 Japanese yen = 0.009568 USD (100 Japanese yen = 0.9568 USD) 1 Australian dollar = 0.9599 U.S. dollars But GDP per capita of Japan is $38,500 USD while that of Australia is $34,359 USD. So the "price" of the currency is absolutely unrelated to whether a nation is rich or advanced. I don't see Australia's economy is 100 fold that of Japan despite the 100 fold "worth" of its currency (relative to USD). Plus, it would be helpful if you can point to me where the whole HKD is higher than Australia dollar, just for my reference. If I DO have short term amnesia, my doctor would be interested to know and have proof.
yeah currency is unrelated but Australia benefits greatly at the moment. I might even go to HK just cause my country's currency is so great presently XD plenty of money flowing in Australia just to let you know. The AUD is expected to overcome USD some time end of this year i think. Sure makes life easier XD for the time being.
Well, after years of ruling the roost, the old greenback (ahem, USD$) is probably going to be relegated to the dustbin of financial history soon. Euro users regularly laugh at the dollar, and even HK is openly questioning the soundness of its alliance with it, and is considering moving away in order to keep from sliding into oblivion alongside the US. China needs to really watch this as an unstable USD is not in its best interest. China has outpaced Japan in US debt, and if the dollar keeps sliding, then China's accounts will keep dwindling. Also, as the dollar drops, the value of trade with the US is going to get less and less positive for China; profits will narrow to a point where their best customer won't be able to afford Chinese products any longer. Several years ago, US dollar holders used to laugh at Canadians; not anymore, as the Canuck dollar has already surpassed the USD. Australia is only ~4% off from USD and if currency trends continues the same way, then it just a matter of time before it too, outpaces the USD. Thank you Mr. Bush. This is the unimaginable nightmare of currency traders. Even the mom and pop foreign currency account holders that use USD accounts as a hedge against inflation are fleeing in droves. As far as I'm concerned, the US is in many ways akin to where the British empire was in its twilight days, whilst China is where the US was at the beginnings of its industrial revolution. China, IMHO is going to be the nation to contend with in the next two centuries. Where does Honk Kong fit into all this? Its probably going to reinvent itself as a shopping or vacation destination, as it learns to compete with other rapidly growing Chinese cities. Hong Kong doesn't have the luxury of land space, and its industries are already mature. It cannot compete with the mainland from the labor point of view and its standard of living is stagnating in comparison (that is, Chinese standard of living is rapidly improving while HK's is already mature, and less likely to gain in leaps and bounds). Eventually, as the PRC Yuan rises in comparison to the dollar, there will be enormous pressure to get rid of HK$ as a currency altogether, replacing it with the Yuan instead. This is eventually going to happen no matter how nostalgic one might get. It took years to get Euro off the drafting table and into consumers hands, but once it did, it has already become the de facto, currency of Europe. With the Yuan already being an accepted currency, and the HK dollar pegged to a falling anachronism, how else does one suspect the financial powers to respond? its just a matter of time. Ralph's crystal ball says: Hong Kong dollar will disappear and be wholly replaced by the Chinese Yuan by 2028 or sooner. Ralph
I wasn't the one who brought up the currency... -whistle And since I am neither an economist NOR living in Australia, I don't know zip about Australia except facts and statistics. And given the USD is falling like a dead leaf, a vacation to Hong Kong would be quite a treat to most nations because of the HKD-USD fixed rate... It is for sure, that if China can overcome the imminent hit that is reduced foreign consumers of goods (namely, in the US), it would soar beyond any belief... And then there's the political "situation" to content with, not to mention social unrest (ye Gods, sigh) and all kinds of disreputable internal conflicts which can erode economy from within. Though it surely sucks, that whole RMB replacing USD as THE currency of world economy sounds just about right (despite aforementioned potential downfall). 20 years can be an awful long time, though to be sure, RMB should at least enjoy quite soem time of privilege in the future as the consumption potential in China is rising. But I sure hope that by the time RMB replaces HKD, they would have invented a bill for a bigger amount and make sure those bills don't remain in circulation for too long: the two complains I have for the RMB bills (despite it being money) are they are insanely dirty, crumpled, torn, grim-etched and "dirty money" in the most literal sense; and that you don't have anything bigger than a 100-RMB bill (which equates to less than $20 AUS/CAD/USD/EURO and less than 10 pounds). Unless they just move on to using electronic currency like the Octopus in the ENTIRE city (or the ENTIRE China? LOL) Just the though of using dirty bills is very revolting, nothing against RMB. A better banking system can easily fix this problem permanently.
The Yuan on the world stage is something new. The DPRK is preveiously well known for producing nearly undetectable knock offs of USD $100 bills. This was what prompted the US to adopt a much stricter currency manufacture process. The Yuan is not something that people would want to counterfeit (yet). But give it time. As the value of something grows, so too does the number of imitators. And I suppose if the manufacture process becomes stricter, so too then, will the resilience of the material used in its creation. That is, the quality of the Yuan bill can only get better. China also needs to explore the usage of coins. Previously the US government researched the issue of money manufacture and discovered that bills only have a useful life of about two or three years, while coins average something ridiculous like twenty seven or so. In essence, its cheaper to produce a dollar coin than to produce a dollar bill. China had avoided this as the quality of its paper currency was crap, and metal coins used to be made from light grade low mass valueless metals (so light that a coin would float on water). However, if it needs to have its currency recognized, it would do well eventually to explore the wider use of real international standard coins. And yes, a 500 denomination RMB would be helpful. Ralph
LOL, so true. Just look at Japanese Yen! Literally the cleanest currency and renowned to be the most difficult to counterfeit... But that's severely off-topic Just thought I should share. At its current exchange rate, I figure it isn't unreasonable to ask for 500RMB and 1000RMB bills (just like HKD)
I am a big fan of Bruce Lee, and he says "I am Chinese" (Hong Kong and Mainland China). I have been living in Canada for the past 40 years and I sense Hong Kong people have an elitist attitude when comparing themselves to Mainland Chinese. Why can we be friends, why can we be friends .....
hong kong is in china som u can just say that she is from china but if they asked wat part of china u lived in..then you say hong kong
I do that all the time lol. Im from Hong Kong not China. Idk i was born there and i got the HK PRIDE Lol weird..
When people ask me what kind of asian I am, I'll tell them I'm chinese. But I'll also tell them I'm from HK. And that there's a difference between coming from HK or Mainland China. Most of them will have heard of HK. And I'll explain I speak cantonese and stuff like that. I think China is still seen as a poor country (3rd world country). So there's something negative about coming from china. Nevertheless I'm proud to be chinese, that be a chinese from HK. =P
I just find Hong Kong people ridiculous since they have to so specifically clarify the differences between themselves and mainlanders, but when it comes to things like how China is becoming more powerful, economic superpower, new rocks being sent into space, those same people will immediately associate themselves again. I once saw an interview of a woman in 1997 saying that she felt proud that "Hong Kong can lift its head up again" (translated from cantonese) due to the return of HK to China as an SAR, but it is obvious, that she probably never felt that Hong Kong was really the underdog and longed to be returned to a then (in comparison) poor country rather than under the protection and legislation of Britain.
Hk ppl don't like mainlanders to much, Like my parents they sometimes say mainlanders are rude and annoying, and try not be group together with ppl from china. So far the ppl form mainland ppl i met are pretty polite and respectful, but you gotta take the good with the bad, there are assholes and nice ppl in every race.
yup, for my view, I feel little bit disappointed for china take HK back because in the past, all Hk people learn the main language "English"; but now they learn "chinese" as mainly. I feel sad about this..........
I know i have a few colleagues that are from HK and when the whites asks them where they are from they say HK and not China... i know its like something pride or whatever it is that HK is superior than China, heck u know HK is CHINA now even thou u dont admit it... and in the end you are still CHINESE.... sigh.... weird its frustrating but HK ppl do get defensive when it comes to where they are from which make no sense to foreigners.
Think u guys need to listern to Andy Lau'ssong released in 1997 "Chinese People" Hahahaha Think some people class themselves as Hong Kong and not Chinese, is because they see China as a poor 3rd world county of factory workers. So, narrow minded!!! So is my next door white neighbor not British because they are not as rich as the Queen??? Or are Chav's not British because they are rude??? End of the day we are all Chinese people
Her statement was not wrong. Hong Kong and China still considered two separate countries in most chinse eyes...
actually, technically it isnt lol. its a special administrative region. anyway, the girl sounds like one of those....not actually white washed girls but they feel the need to explain everything to white people. these types go out of their way to....say get them to learn some canto phrases, just to get a giggle. or in this case, fall prey to the negative image of mainland China that some westerners have and desperately try to separate HK from it. both acts are childish, unnecessary and pretty annoying. they typically think of race constantly. if its not something like this, its asians. they notoriously make "oh asians do this" "we asians think..." etc. they arent racist exactly, but you can tell race means a lot to them added with a hint of needing to impress white people.
