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Cultural Imperial posted:What is and sdr? It sounds like a defacto master currency? Special Drawing Rights is a pseudo currency whose value is determined by a basket of major world currencies. It acts as a unit of account for the IMF, and is theoretically exchangeable for any currency in the basket. Currently it's US Dollars, Euros, British Pounds, and Japanese Yen. Multiple countries hold SDR in addition to normal currency for foreign reserve, and can use the IMF as an intermediary to trade them for actual currency if needed.
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Dec 1, 2015 15:37
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Cultural Imperial posted:Yeah but what does that mean? Can you buy rice with it? Can you backstop your banks with it? Can you trade it for bitcoin? Basically every country in the IMF is entitled to a certain amount of SDR according to various rules. Redemption of all SDRs value is guaranteed by the IMF member countries. If a country desperately needs foreign hard currency of the 4, or soon to be 5 SDR basket currencies, the IMF will arrange for one country to exchange their SDR value to another country for an equivalent value of the currency desired. This was all started when there were closely fixed exchange rates in the Bretton Woods system, as a means for making it easier to keep currency values aligned, but has persisted since then. Periodically, the IMF creates new SDR value and distributes it to all the countries, as sort of a form of financial aid but not really. Perhaps a good way to think of it is like the accounting-only predecessors to the Euro? Back then you would only be paying for things in Marks or Francs or whatever, but balances could be kept in the pre-Euro unified unit, and that unit could be exchanged for other real currencies. Though with that, private businesses could hold it. Only sovereign countries may own SDR.
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Dec 1, 2015 17:00
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Vladimir Putin posted:The nazis failed at the most critical innovation of all: the atomic bomb. Delivering nuclear bombs without a subsonic plane was far more important and we didn't get that without Nazi jet engine tech and nazi rocketeering for the ICBMs. Check and mate.
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Jan 5, 2016 05:16
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ocrumsprug posted:What is the end goal once the government corners the market on all the stocks? 3) Just hold onto them until a new wave of foreign suckers believe buying Chinese stocks are viable
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Jan 15, 2016 17:45
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The Trans-Pacific Partnership treaty is, among other things, about encouraging the development of rival industry to China's in the various poorer countries that are party to it, by making it easy for them to sell to richer countries like Japan, Australia, New Zealand, Canada, and the United States.
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Jan 20, 2016 04:07
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Mange Mite posted:Dunno, a lot of decent shoes are still made outside China, too. Spain is popular, and there's a lot of English shoemakers who still make stuff in England - Charles Tyrwhitt, Herring, Loake 1880, etc. In the US Allen Edmonds is still around. If anything, it's actually hard to find a decent good quality shoe that is made in China. You've got a weird concept for a worthwhile shoe. You don't really need to pay much over $100 for a shoe that will be quite durable.
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Jan 21, 2016 01:12
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On Terra Firma posted:No, not at all. You don't start getting quality dress shoes until you hit around the $200 price point. That's total bullshit. Maybe if you have hosed up feet that need excessive custom cobbling.
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Jan 21, 2016 01:54
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Does capital flight to the US count as reducing our trade deficit with China?
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Jan 29, 2016 03:51
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cheesetriangles posted:Surely doubling the entire supply of your currency is a bit more than just a little inflation. The US money supply has nearly tripled since 2000, and I believe is double what it was in 2007. Despite that, we've not just not had hyperinflation, but we also had a few periods of deflation. While granted the US' position as premier economic market and currency affects that, it still means you can't rely on massively increased money supplies to lead to inflation, when there's the right entities around to soak up the money.
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Feb 12, 2016 16:00
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Fojar38 posted:I thought that Lenovo bought its product line from IBM Lenovo had been building the ThinkPads for like 15 years before they bought out the business from IBM. Lenovo is also the top global personal computer manufacturer since 2013 - in 2014 18.8% of all personal computers sold were Lenovos.
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May 25, 2016 17:08
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Fojar38 posted:Are we really going to consider it a Chinese company for 15 years because the manufacturing was outsourced to China? The entire "IBM" personal computer stuff was in China for that long, and specifically Lenovo's hands. It's not like Lenovo was just some random Chinese company that bought the name, they'd been building and designing it all in house for a long time.
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May 25, 2016 17:33
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Fojar38 posted:I don't know much about Lenovo's history but the wikipedia page for the ThinkPad says that it was being designed by IBM right up to Lenovo's acquisition? IBM was mostly restricted to external case design by the end of the official IBM ownership of the branding. Lenovo's own staff had been designing the internals and all that for years before the nameplates finally switched over. Sure, when Lenovo was first contracted to manufacture ThinkPads et al in the 90s they had no input, but there was a long term switching of responsibilities. Of course it's weirder than that. A lot of Lenovo's design team is in the US and many ThinkPads and other Lenovo laptops are now built by a joint venture they have in Japan.
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May 25, 2016 18:13
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Mange Mite posted:Lenovo is the only one with name recognition and that's only because they bought a far more famous computer company Lenovo didn't buy IBM, they bought a couple product lines to add to ones they already own, and their best selling lines don't come from IBM at all.
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May 25, 2016 18:35
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Krispy Kareem posted:I thought they had the ThinkPad name for only so long. Kind of like how Microsoft bought Nokia's phone business and Nokia couldn't make new phones for X number of years so as to not confuse the two. But it's possible they only lost access to the IBM name after so long. Nah, the specific business deal was that Lenovo got all the ThinkPad intellectual property straight up, and then over the next few years also bought the rest of IBM's x86/x86-64 based computer lines. They further got the right to still label ThinkPads as "IBM" for 5 years, but they stopped doing that after about 3 years because market research showed they didn't need it anymore. IBM in theory can come back into the personal computer market any time, even the day after they sold off the IP, but they sold out intentionally. They'd also need to have entirely new branding compared to anything they had before as far as names go, unless they wanted to buy back the IP from Lenovo. And all that just to get back into the low profit margin business of PCs.
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May 25, 2016 20:32
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MrNemo posted:I just wanted to say that sounds like an issue with North American payment systems. In the UK and a lot of Europe we introduced tap and go pretty widely a couple of years ago, it actually freaked me out a little bit coming back from Malaysia because it just feels very dangerous being able to pay for a round of drinks just by tapping your card against the machine. A few card companies seem to have phone apps now, apple pay is getting more common but I don't think Google Wallet has really managed to take off at all. I guess they haven't found a way to make it that profitable as I haven't seen any marketing around it. We have tap and go in the US, just usually through bank/credit cards rather than loving around with a phone. Most places have stopped issuing them because people didn't really use it enough, it wasn't really faster than just swiping your card.
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Aug 12, 2016 22:50
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Baronjutter posted:The US doesn't have tap? Like you have to actually press buttons or put in a pin or do anything other than touch your card to a thing? No one bothers to tap because it's not any faster, but it's there.
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Aug 13, 2016 13:51
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hailthefish posted:Yeah, the problem with tap & go in the US isn't "lack of innovation", it's that merchants haven't really been given any reason to go out of their way to accept it when it's not noticeably better than swipe & pin for them. Or swipe & signature, or just swipe, or chip and signature, or chip and pin, or the 5 different uses of phones, one of which involved magnets to simulate a swipe...
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Aug 13, 2016 22:58
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waitwhatno posted:We've had something similar here in Germany for a couple of decades now. Every ATM can transfer money to your individual chip card from your bank account, which can then be used to pay in offline situations. Its mostly used for things like cig vending or subway tickets machines, stuff where its not feasible to install a landline internet connection for transactions. What, the Germans are so broke they can't afford to run a simple phone line into subway stations and vending machines outside stores? Or use the cell network? Any vending machines that bother to take things besides cash in the US will use one of those methods, because credit card transactions can be completely handled by like a 9600 baud modem. Or a similarly slow cheap cell phone connection. Setting up a whole separate system of cards to use offline seems needlessly complicated?
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Aug 14, 2016 18:42
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waitwhatno posted:Cig vending machines are on every street corner and in every park, would be totally impractical and expensive to provide landlines to all of them. Ticket machines are also often in bumfuck nowhere, far from any telephone lines. Yeah in the US you either slap a cell antenna on those or, more commonly, just go cash only because why bother spending the money. It's not like detecting counterfeits is hard, the like 3 companies that actually build bill acceptors take care of all that hard work, and emptying the moneybox is easy because some nearby store actually owns the machine and sends the assistant manager out to grab the cashbox every so often. Plus the drat things need to be restocked anyway so you can just have the guy who restocks pull the cash. Of course there's the whole problem that cigarettes are still popular enough to make cig vending machines a viable thing, but that's another thing.
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Aug 14, 2016 20:47
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Krispy Kareem posted:So what are the worldwide repercussions when the bubble bursts? Certainly no one is buying securitized China mortgage debt outside of their own country. It'll majorly hurt all the countries that rely heavily on exports and imports with China. That's why most of those are signing onto the TPP to reduce exposure to China.
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Nov 1, 2016 03:07
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As a reminder, trumps proposed 35% blanket tariff on China products would most often not change the price or lower the price. So if he actually got it in, many Chinese things get more attractive to import.
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Dec 1, 2016 05:58
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Bloodnose posted:Pevan Stan weighs in on the side of environmental devastation and extinction. You can't expect anything more from the guy who thinks any Asian who doesn't live in China, Japan or Korea is a jungle dweller.
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May 19, 2017 00:53
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You're neglecting that France also has the ability to use a bunch of NATO ally bases, beyond just the bases they outright own.
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Jun 28, 2017 03:47
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Krispy Kareem posted:Isn't all debt State debt in a communist country? Ehh, "guarenteed". It's not likely the government would actually stand by all of it when push came to shove, and legally they don't have to. It just doesn't count the same as direct state debt.
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Jul 3, 2017 22:55
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