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Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt - Foreign Affairs (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt (33675 Views)

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Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by MinorityTribe: 2:12pm On Dec 22, 2015
genuinechimere:
when I commented, I can't remember using any abusive or foul language on u. What brought about abusing me here? Well, two people can't get mad at same time, Mr Know-it-all
I didn't abuse you, just call you what you are. An illiterate! Prove you aren't an illiterate, say something smart.
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by DedeNkem: 2:13pm On Dec 22, 2015
China has finally bought Zimbabwe. Nigeria is next.

China has already flooded Nigeria with inferior products and is busy building infastructure in Nigeria on credit.

Nigeria presently owes China a whopping 6.2 Billion US dollars, (thanks to northern thieves) and the debt keeps increasing.
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by prettyboi1(m): 2:13pm On Dec 22, 2015
Felx007:
Colonialism round 2. Very soon they will also adopt mandarin as national language. stvpid slaves
Well, isn't our official 'national language' English?

1 Like

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by MinorityTribe: 2:15pm On Dec 22, 2015
ChinonsoDike2:


Why are you A*holes always so pissed at the USA?! Did we deny you visa?! grin
Always plotting the downfall of a country a million times better than your sub-Saharan craphole. Concentrate on your country, you low IQ sub-human. 'Merica!
All these Nigerian-Americans feeling like god just because they are in the US. I am quite sure even Almajiris in the North live better life than your American blackass.

6 Likes

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by genuinechimere(m): 2:16pm On Dec 22, 2015
MinorityTribe:
I didn't abuse you, just call you what you are. An illiterate! Prove you aren't an illiterate, say something smart.
I refuse to join issues with you. Silence they say it's the best answer for a ......? Good day Mr "Albert Einstein"

3 Likes

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by MinorityTribe: 2:17pm On Dec 22, 2015
genuinechimere:
I refuse to join issues with you. Silence they say it's the best answer for a ......? Good day Mr "Albert Einstein"
Good day Mr illiterate.
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by leofab(f): 2:18pm On Dec 22, 2015
Power is shifting to the east.. Goodbye to piescian age!!!!
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by ZUBY77(m): 2:18pm On Dec 22, 2015
stardragon:

oga how??

Why are countries using US Dollars as legal tender? Is there any supreme justification to that? It is the rule they created by themselves when they were the highest oil buyers. Now Chinese has taken over that mantle.

Chinese produce half of what Zimbabwe buys and uses. Same with most African countries.

You produce oil and they determine the price and trading currency, how do you think your oil will sustain you when they occasionally threaten to stop buying at the price you want? What exactly do you think caused the Libyan invasion? What did Ghadafi do?


I have said it that Africa should swallow their black useless pride and look up to Asia.
Europe and United States developed long ago and while sitting up there, they make rules that suppress emerging countries. They have reached their economic limit and the only way to maintain it and remain up there is to make economic rules that crush emerging countries.
They manufacture things and shop them to you. You manufacture yours, they call it substandard and stop you from discussing it at all at the World Trade Organisation. How many Africans are members of WTO? Zero.


Only hardliners such as China, Iran and co are able to wriggle themselves out of the grip of Europe and USA. Africa needs to start doing the same. Stop looking up to America, it's common sense that Dangote or Adenuga will never give you an idea that will make you get richer than them or make you as rich as they are.

When things are not working for you, it's logical that you try something else.

6 Likes 3 Shares

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by coolhumble(m): 2:19pm On Dec 22, 2015
Someone has sold his country shocked
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by Elxandre(m): 2:20pm On Dec 22, 2015
promkingzz:


Even P Square sef go settle d debt well. Chai! #Africans #MentalSlaves smh
Psquare ke... You wan kill them? Lol
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by MinorityTribe: 2:22pm On Dec 22, 2015
ZUBY77:


Why are countries using US Dollars as legal tender? Is there any supreme justification to that? It is the rule they created by themselves when they were the highest oil buyers. Now Chinese has taken over that mantle.

Chinese produce half of what Zimbabwe buys and uses. Same with most African countries.

You produce oil and they determine the price and trading currency, how do you think your oil will sustain you when they occasionally threaten to stop buying at the price you want? What exactly do you think caused the Libyan invasion? What did Ghadafi do?


I have said it that Africa should swallow their black useless pride and look up to Asia.
Europe and United States developed long ago and while sitting up there, they make rules that suppress emerging countries. They have reached their economic limit and the only way to maintain it and remain up there is to make economic rules that crush emerging countries.
They manufacture things and shop them to you. You manufacture yours, they call it substandard and stop you from discussing it at all at the World Trade Organisation. How many Africans are members of WTO? Zero.


Only hardliners such as China, Iran and co are able to wriggle themselves out of the grip of Europe and USA. Africa needs to start doing the same. Stop looking up to America, it's common sense that Dangote or Adenuga will never give you an idea that will make you get richer than them or make you as rich as they are.

When things are not working for you, it's logical that you try something else.
Thank you, Where is that American Black Assz ChinonsoDike2. Come read this.

1 Like

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by onatisi(m): 2:26pm On Dec 22, 2015
400billionman:
A step in the right direction.

CHINA helps struggling economies from Ethiopia to Nigeria to Zimbabwe. Unlike UK and US, always pursuing selfish policy thrusts..

The Chinese ecomomy is the strongest worldwide fuelled by so much exports and now the biggest worldwide.
many don't know that china has spread set up cool a bank just like the IMF or world bank and a lot of Asian countries have joined. The Chinese are gradually becoming the world super power. Zambia too will soon join Zimbabwe and once those 2 countries are in it is just a matter of time before other African countries join. China will try to turn Zimbabwe into a working and vibrant economy so as to attract other African countries. This will be a huge threat to south Africa because of the cheap goods which china will be making in Zimbabwe

2 Likes

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by ooshinibos: 2:28pm On Dec 22, 2015
where is the black nation we all shouted about .....KAI .. why don't we have a successful black nation on planet earth
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by onatisi(m): 2:28pm On Dec 22, 2015
DedeNkem post=41241436 :
China has finally bought Zimbabwe. Nigeria is next.

China has already flooded Nigeria with inferior products and is busy building infastructure in Nigeria on credit.

Nigeria presenting owes China a whopping 6.2 Billion US dollars, (thanks to northern thieves) and the debt keeps increasing.
Ghana has already mortgaged her oil to china for a number of years
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by Charly68: 2:28pm On Dec 22, 2015
The Baba would have adopted Naira as Zimbabwe's legal currency we would have paid up their &40m debt...what a. Slap..high time we wake up as Giant of Africa & begin to play our big brother's role..that figure is still a chicken change compared to the billions that some vandals flittered away

1 Like

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by ajealadick(m): 2:34pm On Dec 22, 2015
[img][/img]Now I understand this man[/size]

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[center][/center][right][/right][left][/left][s][/s][i][/i][b][/b]

1 Share

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by lordmayor4(m): 2:43pm On Dec 22, 2015
Expect more trouble in the zone this coming year.
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by Nobody: 2:46pm On Dec 22, 2015
MR MUGABE ,SO YOU ARE SO CHEAP.OUR POLITICIANS WILL NOT ONLY TAKE OVER YOUR LEGAL TENDER BUT ALSO ADOPT YOUR COUNTRY AS A CHILD WITH THEIR BILLIONS OF DOLLARS.
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by lezz(m): 2:54pm On Dec 22, 2015
TheGreenDay:
Zimbabwe has announced that it will make the Chinese yuan legal tender after Beijing confirmed it would cancel $40m in debts.

“They (China) said they are cancelling our debts that are maturing this year and we are in the process of finalising the debt instruments and calculating the debts,” minister Patrick Chinamasa said in a statement.

Chinamasa also announced that Zimbabwe will officially make the Chinese yuan legal tender as it seeks to increase trade with Beijing.

Zimbabwe abandoned its own dollar in 2009 after hyperinflation, which had peaked at around 500bn%, rendered it unusable.

It then started using a slew of foreign currencies, including the US dollar and the South African rand.

The yuan was later added to the basket of the foreign currencies, but its use had not been approved yet for public transactions in the market dominated by the greenback.
http://metropolexpress.com/business/item/5656-zimbabwe-adopts-chinese-yuan-as-official-currency-in-exchange-for-40m-debt-relief
neocolonialism at its peak. So much for the SADC grin
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by DikSin(m): 2:56pm On Dec 22, 2015
koboko69:
Because of ordinary 40million dollars.

When Jonathan, Dansuki and friends shared 2.1 billion dollars within themselves....

Na the one we still know ooo.

Nigeria is a f**king rich country.....

Just that PDP looted it dry!

*in Timaya's voice* i Concur grin
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by emzila(m): 3:23pm On Dec 22, 2015
A NATION DESTINY HAS JUST BEEN CHANGED FOR $40M WHILE ONE IDIOT JUST LAVISHED OUR $2.1B JUST LIKE THAT IN THE NAME OF RE ELECTION BID. DASUKI AND OTHERS MUST GO TO JAIL.
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by Nobody: 3:47pm On Dec 22, 2015
MinorityTribe:
All these Nigerian-Americans feeling like god just because they are in the US. I am quite sure even Almajiris in the North live better life than your American blackass.

Mortgaged house, Mortgaged vehicle about to be repossessed , schooled on credit to pay back over a thousand years...... yet he get mouth come Nairaland. I only blame cheap internet if not he is using a rented phone, how could he have gotten here?.

2 Likes

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by sammhi(m): 3:47pm On Dec 22, 2015
koboko69:
Because of ordinary 40million dollars.

When Jonathan, Dansuki and friends shared 2.1 billion dollars within themselves....

Na the one we still know ooo.

Nigeria is a f**king rich country.....

Just that PDP looted it dry!
am sure you are a kid who never reads! if not you will know that Abacha is not PDP....
the so called looted fund were Abacha looted fund....
my point: all leaders from 1960 to date including your God PMB has contributed to making Nigeria what it is today....stop blaming GEJ alone...they are all guilty of looting, lying, discrimination , tribalism etc that has become chains retarding progress....
or was Abacha in PDP? or was Shagari, IBB etc in PDP.?. it is only a kid that would think GEJ or PDP is Nigeria problem..no sir ...
by extension ..we all are guilty..am sure in your little corner, you are stealing ....
Go to EFCC, police, Army, ministres, Universities etc you will find corruption ...is it GEJ or PDP too?

5 Likes

Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by banio: 3:48pm On Dec 22, 2015
That means China can buy Zimbabwe by producing enough Yuan.
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by RFella(m): 4:06pm On Dec 22, 2015
dominique:
Hopefully it will be better than the Zimbabwean dollar. Imagine using one billion dollars to buy a loaf of bread. Only in Zimbabwe

Lolsss....you go soon start e-war between Nigerians and Zimbabweans
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by angiography(m): 4:25pm On Dec 22, 2015
linusbnn:
It is a nice idea because the country's currency is already DEAD. China will help to resurrect the economy of Zimbabwe if IMugabe will be able to drop aside PRIDE.
I bet you, the Chinese are worse than the Americans
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by cosmicrayboi(m): 4:35pm On Dec 22, 2015
see that chinasa guy face cheesy thats all naija needs from london ryt noe undecided
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by EasternLion: 4:44pm On Dec 22, 2015
cosmicrayboi:
see that chinasa guy face cheesy thats all naija needs from london ryt noe undecided

Ray?
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by cosmicrayboi(m): 4:47pm On Dec 22, 2015
EasternLion:


Ray?
who they hell me like this, that chinasa na ur broda? abi una wan leave goodluck jonny now come dey blame me
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by Nobody: 5:05pm On Dec 22, 2015
[quote author=ZUBY77 post=41239689]Why are countries using US Dollars as legal tender?
Is there any supreme justification to that?
It is the rule they created by themselves when they were the highest oil buyers.
Now Chinese has taken over that mantle.

Chinese produce half of what Zimbabwe buys and uses. Same with most African countries.

You produce oil and USA determine the price and trading currency, how do you think your oil will sustain you when they occasionally threaten to stop buying at the price you want?
What exactly do you think caused the Libyan invasion? What did Ghadafi do?


I have said it that Africa should swallow their black useless pride and look up to Asia.
Europe and United States developed long ago and while sitting up there, they make rules that suppress emerging countries.
They have reached their economic limit and the only way to maintain it and remain up there is to make economic rules that crush emerging countries.
They manufacture things and ship them to you.
You
Re: Zimbabwe Adopts Chinese Yuan As Official Legal Tender In Exchange For $40m Debt by koboko69: 5:16pm On Dec 22, 2015
sammhi:

am sure you are a kid who never reads! if not you will know that Abacha is not PDP....
the so called looted fund were Abacha looted fund....
my point: all leaders from 1960 to date including your God PMB has contributed to making Nigeria what it is today....stop blaming GEJ alone...they are all guilty of looting, lying, discrimination , tribalism etc that has become chains retarding progress....
or was Abacha in PDP? or was Shagari, IBB etc in PDP.?. it is only a kid that would think GEJ or PDP is Nigeria problem..no sir ...
by extension ..we all are guilty..am sure in your little corner, you are stealing ....
Go to EFCC, police, Army, ministres, Universities etc you will find corruption ...is it GEJ or PDP too?

Hey Mr. Aint dumb as u are. The Democratic government was to come and correct the abnormalities of the past. Not to come and take it to another level. PDP was in power for 16years....i don't give a hoot about military dictators. ...what i care about is after clamoring for a democracy in other to have freedom and financial freedom..,hoping for the best....PDP took looting to another level. So dont quote me and tell me what we all know

1 Like

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