Wednesday, April 20, 2016

CONSTRUCTIVE FEEDBACK UNIVERSITY: Currency And Black People - The US $20 Bill, The Chinese Yuan And An African Reserve Currency

I AM GOING TO BE NEUTRAL, REMOVING MYSELF FROM THIS POST AS MUCH AS POSSIBLE.

Here are the two stories about "Black People And Currency" that I saw today.

I will only give my opinion in the third row of the table below.



The Story
A Symbolic Move That Is Pleasing To The Americanized Blacks

US Treasury Department Annoucnes That Harriet Tubman To Be Placed Upon The US $20 Bill

Source: Politico
A Strategic Fiscal Move To Facilitate Chinese Exports Into Africa
The Recent Visit By The Nigerian President To Chinese Bears Its First Public Fruits




A few years ago on my trip back from South Africa I sat next to a female clothing boutique owner from Mozambique.  She was on her way to Hong Kong to shop for woman's fashions for her shop.  She told me that she travels there every two months because her customers like to distinguish themselves from other people by having the latest fashions.

I asked her: "What is it about these clothes from Hong Kong that could not be made by seamstresses in Mozambique? "    Unfortunately her customers seemed to value the aura of having "Made In Hong Kong" on their labels.

While this currency settlement deal makes the African merchants selling Chinese goods happy, this alone does not improve the aggregate fiscal position of Nigeria.  It only makes the Nigerian CONSUMERS happy.

This Day: Analysis Of The Impact Of The Chinese-Nigerian Agreement On Currency Settlement
THE ACTUAL STRENGTHENING OF THE BALANCE OF TRADE ONLY REAL GAINS IN NET VALUE ADDED PRODUCTION 0F HIGH END MARKET GOODS AND EXPORTS (PRIMARILY WITHIN AFRICA AND) TO OTHER NATIONS AROUND THE WORLD WILL  TRANSLATE INTO MEASURABLE ECONOMIC GROWTH FOR ANY BLACK POPULATION OF PEOPLE - ANYWHERE AROUND THE WORLD.

EVERYTHING ELSE IS MERE SENTIMENTALISM AND MISPLACED PRIDE


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