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China’s Stumbling Blocks


8 Comments

  1. Meryl Mackay aka 马美丽 says:

    China is now world’s second biggest economy. They must get the banks into the 21st century! I hate the Chinese banks too and have only ventured into them with a Chinese friend to interpret the system for me. On my last visit to Beijing, November 2010, I took Yuan with me, even though the exchange rate was poor – 9.55 Yuan to £1 Sterling. The convenience of using a British Bank and organising the money online made the transaction worthwhile! Love the blog and v.interested in health issues too.

    • Tom says:

      At this point I don’t deal with the banks. I have a US account that doesn’t charge ATM fees internationally. Also when I get RMB for something I just stash it in my apartment.
      I’ve heard horror stories about people wiring money back to the US and the bank in China “loses” it.

  2. […] Throughout the economic downturn China has kept huge numbers of people employed by starting massive infrastructure projects. They’ve built hundreds of miles of high-speed rail, started construction on new subway lines, and have worked on improving the freeway system. It … Continue reading → […]

  3. Someone thinks this story is fantastic…

    This story was submitted to Hao Hao Report – a collection of China’s best stories and blog posts. If you like this story, be sure to go vote for it….

  4. vic williams says:

    Hi,

    The banks are managed by people. In China one deals with people, not laws. One has an implied interpersonal relationship with one’s bank manager – your buddy that you didn’t know about. That relationship doesn’t travel to the next city. Now that you understand, that warm friendly fuzziness that you’re suddenly feeling to your banker, or the place that sells you time on your cell phone, is wholly out of place in another Province. Buddies are only buddies when they buddy up together – Confucianally.

  5. […] Seeing Red in China My life in their world Skip to content HomeAbout MeMap of China ← China’s Stumbling Blocks […]

  6. […] Biggest Hurdle Posted on February 16, 2011 by Tom We’ve seen how limited interconnectedness and a lack of communication have been causing problems in China’s banks and hospitals. Today I […]

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