But from the man-on-the-street view, i wouldn't want my salary to be in RMB. China may
very well become the next economic order but it is premised mainly on production and
export hence, when it eventually dominates the global economy, it will be one where
the RMB will be kept relatively weak to maintain its macro prosperity.
The US and the West in general are still have a very strong consumer culture and such
culture will not change in the near future as it is quite entrenched in the way of life.
China will continue to sell and the US will continue to buy. To keep the US buying, the
RMB has to be kept to an attractively low level with regard to the Dollar.
Thats good for us as well actually, punting will be affordable (so in that way, we keep
buying as well
). Problem is, the Western Currencies can't shoot to stay alive
these days, hence the budgeting.
