Comments by "May L" (@MeiinUK) on "China's Auto Price Slash u0026 Economic Recession Looming: Record Pessimism and Reluctance to Spend" video.
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@wizard-of-other-oz : This could be based on currency exchange rates. I quote:
" Early Currency in China
With a history of over 3000 years, Chinese currency existed in both Ancient and Imperial China. In 1914, the Silver Dollar was established as the official currency of the Republic of China, with copper, fen, and nickel coins being added in the 1930s. During this time silver appreciated in value, and China could no longer retain the silver standard. In 1935, a new currency known as Fǎbì, was issued.
Introduction of the Gold Yuan and Chinese Yuan Renminbi
The Gold Yuan replaced the Fǎbì in 1948 at a rate of 1 Gold Yuan to 3 million Yuan Fǎbì. That same year, the Yuan Renminbi (often called RMB) was introduced as a way to help stabilize the Communist held areas of mainland China. In 1955, a re-evaluation took place and a new Yuan Renminbi was introduced at a rate of 1 new Yuan to 10,000 old Yuan."
So yeh... you can see why, my mobile in 1998.. for 300 pounds, equalled to around half a million yuan ? And at that time, some "cities" had no banks. So then they keep it in the biscuit tins. And cos they don't bank it. Then the numbers run out. So when the numbers run out. They get duplicates. And then they add a new machine, that cannot calculate up to that high figure. So.. it ends up this way. "Uncertain overall GDP figure." Cos basically, systemic errors everywhere... but of course, they say some are legal. Maybe it is, but then they don't say. So often, absorbs some of the old western way to do things. And it ends up worst etc. It goes on and on... etc.
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