Note to Beijing Tourists: Best Return on a Yuan

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1 yuan china.jpgBest yuan (about 15 cents) a tourist can spend in Beijing (particularly on a very hot muggy day) is on Bus No. 2 from Qianmen Gate, the ancient gate guarding the southern entry into Beijing’s inner city and then running in a wide swing past many of Beijing’s major landmarks — including the Beijing Central Rail Station and the last bits of the original old wall of the city, up through the new modern developments to the Olympics Bird Nest.
It’s a double decker bus — and best seats are on top up front with a full glass view of the oncoming city and sites. All for $.15. Well, $.30 if you want to ride back after getting to the end of the line.
Met a bunch of cool people on the bus that seemed amused that I was having so much fun catching the sites this way.
— Steve Clemons

Comments

2 comments on “Note to Beijing Tourists: Best Return on a Yuan

  1. samuelburke says:

    That sounds like the trip of a lifetime, enjoy.
    China and Cuba have trade agreements do they not?
    trade between Cuba and China must be growing and at some
    point they will find an equilibrium where growth of some type
    might be sustainable, for the cuban gov’t. I don’t know if the
    cuban gov’t is ready to accept a business economy officially.
    I don’t know if the cuban gov’t is ready to handle some financial
    successes. The u.s ought to have a more benevolent foreign
    policy, especially if they want to make inroads into those markets
    wherein china is dealing successfully, which is most of them.
    Cuba is just one example where the U.S misses a chance to be
    self interested and Ideologically Atheist.
    business for business sake.
    trade with one you trade with both.
    in for a buck in for a quid.
    progress in relations is what is needed.

    Reply

  2. Don Bacon says:

    Those bus rides might get more expensive, thanks to US meddling in China’s affairs. The US and its bankers know what’s best for China, of course.
    some extracts from a Reuters article and comments:
    President Obama, in a recent letter, has prodded China to revalue its yuan and in response China said on Saturday it would gradually make the yuan more flexible.
    “This is an important move as it signals recognition by Chinese officials that a more flexible exchange rate is in China’s own interest and also acknowledges its responsibility to the international community,” said Eswar Prasad, a former head of the International Monetary Fund’s China division.
    “We believe this is a positive gesture, suggesting the yuan will soon resume its appreciation against the dollar,” said Goldman Sachs economists Yu Song and Helen Qiao.
    Goldman Sachs, where have I heard that before?
    China has held the yuan at roughly 6.83 to the dollar since July 2008 in an attempt to insulate the fastest-growing major economy from the turmoil sparked by the U.S. credit crunch.
    But don’t expect a big change.
    The announcement by China’s central bank, which strongly suggested it was ready to break the currency’s 23-month-old dollar peg, was conditioned by an explicit warning ruling out a one-off revaluation or major yuan appreciation.
    “The basis for large-scale appreciation of the RMB (yuan) exchange rate does not exist,” the People’s Bank of China said.

    Reply

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