Why Should Nigeria Pay Back China -Yuan -Loan Deal In $USD? Convinced Nigerians

this topic is why should Nigeria pay back China-Yuan-Loan Deal in USD$? Nigerians need to be convinced why we are not paying back in yuan but in Dollars.


this underlined question is a red flag and there is definitely a caught in this scheme. it's either the APC is scamming Nigeria or the Chinese want to scam Nigeria.

since the Chinese government want to open China and Nigeria Yuan Trade. there should be ease paying them with yuan earn from export to China. this red flag shows there is nothing to export to China from Nigeria.

and the most funny part we are converting a big chunk of our reserved to a country who don't want yuan payment. this is disturbing and hilarious.


if we must tell ourselves the truth without religious or tribal view. than we will see things clearly. the APC or buhari aide need to come out on national TV to explain to Nigeria every details of this loan.


can someone care enough to answer this questions?


if there is no reasonable answer we will keep heating up the polity, and most especially this China & Nigeria deal

Ask Buhari

Joel3:
this topic is why should Nigeria pay back China-Yuan-Loan in USD$? Nigerians need to be convinced why we are not paying back in yuan but in Dollars.


this underlined question is a red flag and there is caught in this scheme. it's either APC is scamming Nigeria or the Chinese what to scam Nigeria.

since the Chinese government want to open China and Nigeria Yuan Trade. there should be ease paying them with yuan earn from export to China. this red flag shows there is nothing to export to China from Nigeria.

and the most funny part we are converting a big chunk of out reserved to a country who don't want yuan payment. this is disturbing and hilarious.


if we must tell ourselves the truth without religious or tribal view. than we will see things clearly. the APC or buhari aide need to come out on national TV to explain to Nigeria every details of this loan.


can someone care enough to answer this questions?


if there is no reasonable answer we will keep heating the polity most especially this China & Nigeria deal

You didn't need your so called "red flag" to know this.

The top export destinations of Nigeria are India ($12.4B), the United States ($10.9B), Brazil ($9.7B), Spain ($7B) and the Netherlands ($5.12B).

The [size=18pt]top import origins are China ($11.6B)[/size], the United States ($5.89B), the Netherlands ($3.59B), Belgium-Luxembourg ($3.08B) and India ($2.69B).



Yet, Nigerians think that the West are their enemies because their leaders have brainwashed them into believing this crap in order to distract them from their inability to run the country properly.

So basically China wants to sell us cap, but they don't want to buy anything from us.

It seems u don't understand China,

China is trying to kill Africa's Manufacturing Sectir so that the can flood dre product in all Africa.

China practices a currency system that is based on fixation.

They tend to adjust dre currency to create undervalued share against us dollar.

So what if us Dollars depreciate 2morow and China wanting to shrug off competitions on prices of finished
Commodity dey will have to peg yuan lower.

Dre rendering d debt dey gave us valueless.
So dey rather give us loan on floating currency.
While our clueless govt buy Chinese Bond


Your question should be,

Why buy Chinese Bond, why hv our reserve in China

A currency dat can be Devalued anyday by China just to have advantage in Export PMI.

dullardinhoooooooooooo

This is what will eventually happen to Nigeria with this china deal

Good one there @ op. Nigerians won't stop to baffle me.

You will still see some people coming out on this thread to defend this Yuan.

No one does international transactions with Yuan. Even the Chinese won't accept it. This country won't cease to amaze you

If u ask me shey na Baba I wan go ask niiii

I doubt if APC zombies will agree with this, in their eyes, Buhari is faultless and perfect.

Mr Joel3, by October this year, the yuan will officially become a reserve currency.
See
http://www.cnbc.com/2015/11/30/imf-agrees-to-include-chinas-rmb-in-benchmark-sdr-currency-basket.html

The us dollar is under major strains as a result of this. See
http://www.profitconfidential.com/u-s-dollar/imf-includes-yuan-in-sdr-basket-does-this-threaten-a-dollar-collapse-in-2016/

What buhari has done is to put a hedge in our foreign reserves. If the dollar collapses, we will have some money in yuan and if the yuan collapses we will have some money in dollars.

Presently, crude oil is strictly sold in US dollars, so most of nigeria's foreign earnings is in US dollars. This may change soon but as of this moment, nigeria earns income in dollars.

This is the main reason the loan is to be paid back in dollars and not yuan.

China is gradually shifting it's economy from an export driven one to consumption based one
See
http://asiahouse.org/chinas-shift-export-led-domestic-consumption-driven-economy-will-see-6-5-growth/

In the long term, China must revalue the yuan higher against other currencies to improve the standard of living of its country men.

Joel3, you should be more concerned about what projects this borrowed money is to be spent on and how much interest nigeria will have to pay.

trillville:
Mr Joel3, by October this year, the yuan will officially become a reserve currency.
See
http://www.cnbc.com/2015/11/30/imf-agrees-to-include-chinas-rmb-in-benchmark-sdr-currency-basket.html

The us dollar is under major strains as a result of this. See
http://www.profitconfidential.com/u-s-dollar/imf-includes-yuan-in-sdr-basket-does-this-threaten-a-dollar-collapse-in-2016/

What buhari has done is to put a hedge in our foreign reserves. If the dollar collapses, we will have some money in yuan and if the yuan collapses we will have some money in dollars.

Presently, crude oil is strictly sold in US dollars, so most of nigeria's foreign earnings is in US dollars. This may change soon but as of this moment, nigeria earns income in dollars.

This is the main reason the loan is to be paid back in dollars and not yuan.

China is gradually shifting it's economy from an export driven one to consumption based one
See
http://asiahouse.org/chinas-shift-export-led-domestic-consumption-driven-economy-will-see-6-5-growth/

In the long term, China must revalue the yuan higher against other currencies to improve the standard of living of its country men.

Joel3, you should be more concerned about what projects this borrowed money is to be spent on and how much interest nigeria will have to pay.

I took time to read the links, IMF is contemplating to add yuan to it reserved bucket by October this year. they are still in doubt and not fully convince enough yet because the move has been criticised.

this still don't answer the question. why can't we pay the loan back in Yuan. this is cheating.

Mindfulness:


You didn't need your so called "red flag" to know this.

The top export destinations of Nigeria are India ($12.4B), the United States ($10.9B), Brazil ($9.7B), Spain ($7B) and the Netherlands ($5.12B).

The [size=18pt]top import origins are China ($11.6B)[/size], the United States ($5.89B), the Netherlands ($3.59B), Belgium-Luxembourg ($3.08B) and India ($2.69B).



Yet, Nigerians think that the West are their enemies because their leaders have brainwashed them into believing this crap in order to distract them from their inability to run the country properly.

great findings