Ask The Experts About Forex Factory
Helen asks…
Will Americans be able to compete with the Chinese?
1. The Chinese minimum wage is around 600 yuan (USD80)
per month.
Americans minimum wage is about USD5 per hour = USD800 per month
Minimum wage Americans USD800 vs Chinese USD80
http://www.chinalaborwatch.org/2006%20ed…
2. In terms of food, China basically is a Self-Sufficient country. Therefore Not Necessary to buy other currencies for food & shelter.
And that’s partly why their foreign reseves are growing.
3. The Chinese Foreign Exchange Reserves is USD1,400 Billion.
http://en.wikipedia.org/wiki/list_of_cou…
If US urged China to float their currency without the existing fixed bands, would this help to compete with China?
(US hoping that the Yuan will increase and labor become expensive hence certain products in China becoming costly & that all factories could be shifted back to US)
With 1.4trillions reserves, forex mkt is in their hand.
Additional Details
32 minutes ago
Just like the japanese who have lots2 of foreign reserves, the Chinese too can easily interfere in the forex open market (throw away their Yuan to make it cheaper) to determine the value as they like.
admin answers:
We will have to wait to see how well Kobe and LeBron do against China in the Olympics!
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Ask The Experts About Forex Market
Carol asks…
Where can I find a beginners guide to trading in the Forex market?
I am new to the Forex market and I am very interested in the potiential that it has to offer. I am trying to weed through all the nonsense and not become overwhelmed with all the info out there. Does anyone have some guidance on this subject and can you give me some pointers that may help me out of the gate. Any information on this would be greatly appreciated.
admin answers:
The particular website linked at the bottom specializes in giving novice/beginner forex-traders helpful fundamental information regarding large and detailed introductions on foreign exchange, forex-trading tips, concepts, fraud warning info, trading safety info and also excellent, detailed information on the Major currencies of the world and the Central Banks that go with it.
There is also an article written especially for novice traders, where a more advanced trader is writing about his experiences in forex-trading during one day. All these articles are for novices and beginners, but the very first link at the top of the list below is especially written for novices. On the home-page of the website, it will show the latest news on economies and forextrading and may help you while you trade.
I find this site particularly helpful since im still learning too! Hope this helps!
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