CHINA'S PRINTING my country currency? Isn't that a clear THREAT TO A NATION SECURITY ?
 | Usually my focus is directed towards crypto, blockchain technology, AI and psychology in general. I hardly dare to "talk" openly about politics and I'm definitely far from having strong views. My intention is to share my worries with you on one particular issue, hoping that some of you would be willing to share your knowledge and experience with me. |
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INTRODUCTION
As some of you may have noticed, I've been quite absent lately and I didn't really plan to publish anything at the moment. However, I've recently read an article which got my full attention and made me seriously worry about my own country, Poland:
| "China is printing money for countries like Poland and Brazil at ‘full steam’ as it tries to expand its influence on the global economy" |  |
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Poland and Brazil are not the only countries affected by China, as they are also printing India, Nepal, Sri Lanka, Bangladesh and Malaysian currencies.
It's clear that the Chinese goverment's capabilities of printing many foreign currencies is possible and this raises several important questions and it create disturbing national security implications.
IMPORTANT QUESTIONS
What are the potential consequences for those countries to bring such a contract? How could this contract happen in the first place?
I always believed that each country would aim to be in charge of printing their own currency. Being in control of your own money seem to be a must. How could Poland and other countries allow China to have that much power over all those nations? Im also wondering if corruption in China isn't still a huge problem?
I can easily imagine the entire Polish market being flooded with those money, causing very high inflation and destabilizing the entire country. Other markets (Malaysian, Thailand etc) would be even easier to destabilize. I see plenty of threats but somehow I cannot see any potential benefits coming from this deal.
SHARE YOUR VIEW WITH ME
So please share your thoughts on this topic with me. Mostly help me understand how could Poland (and other countries) benefit from having such a deal with China. What are threats, pros and cons of this solution.
There are a number of questions Im trying to figure out and I would really love to hear from you. I promise to read every comment below.
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Yours,
Piotr
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Hi @Piotr, are you a polish in Malaysia? Your name it look like that. We are a polish company running by italians, so we do not speak polish, but we are amazed about your article of printing polish money from China, this make me undersatnd of many thing and why here is paradise of chinese. You know how many shit they try to sell around the world, but in Italy for example, if you buy chinese shit and it stop to work before 15 days, you have the right to give it back and choice to get back your money or take another one, but here in Poland, NO! They take your part, even bought just an our ago, to maintenace centre, so if you need this piece of shit, you have to wait even another 15 days to get back it that may be can work for another week and than they take it another time to maitenance service till you decide to through it away, so what you wrote it make me understanding many thing now, thank you!
Thank you for your amazing reply @intellihandling
I've checked your profile and it's kind of hard to see your description. Example:
Perhaps you could think of different background picture. Just a suggestion.
Would you mind telling me if you guys have any website already? So I could learn more about your services?
Yours
Piotr
Dear @piotr, thank you for your kindly comment, you can see something more here: https://steemit.com/steemit/@intellihandling/making-an-ico-with-steemit-help-will-be-possible
I love to see how responsive you are @intellihandling
Your post has been published 6 month ago so Im sure many things have changed in meantime. How is your project doing currently?
Would you mind sending me short email to [email protected]? I would love to be able to keep in touch and support each other on Steemit.
I wish there would be more advanced notification system developed by steemit.
No pressure of course :)
Piotr
Hi Piotr, thank you for your kindly answer and i will send soon email to tell you about our project.
It is also a good idea to post weekly about your project. This keeps your followers growing and happy to see updates and help you raise funds for the future.
Tangential, but I laughed the first time I read this article. Made in Italy indeed!
http://www.chicagotribune.com/news/nationworld/chi-italy-china_spolarjan02-story.html
Dear my friend, i would like to read this article, but this is message i got after try to open the link:
Europe censors the internet... interesting
maybe you #brexit you also exit their internet?
Dear @dynamicrypto, it is sad to see it for me, i was thinking we are continent of freedom!
hi @dynamicrypto, @intellihandling
I wonder why would europe censor this kind of article?
Dear Piotr, so this was the article hided? This article is showing a typical chinese mafia behaviour and of course could be some italian bad man help them to find the place, but when our police discover that, is always trouble to understand who is organization, for us chineses seems all the same and when they are in trouble they do not speak at all and it is very hard to discover organization. But this article is very different from the post concept, here is something illegal, but in Poland chineses business are protected, Piotr am i wrong?
Sorry for the late reply, but I don't think that it was blocked because of censorship, but rather the article is hosted on an American website that knew it was not in compliance with European privacy laws and GDPR so it seems they geo-blocked it for Europeans. American websites probably serve ads and collect data that would get them in trouble with the GDPR so maybe the article will be available once the website itself changes that.
This is a matter of concern. China is given a contract by many countries to print their currency notes. Can China not flood those countries with fake notes?Definitely, yes.
hi @akdx
Thanks for sharing your view. It seem that we're both on the same page here.
Yours
Piotr
Hi @crypto.piotr. There are obvious risks to national security and currency sovereignty, however a cost benefit may show that the costs of outsourcing currency may be worth the risk. I know that here in Australia, we print currency for many of our Asia-Pacific neighbours. Security is tight, and quality excellent. different situation to the one you outline, many of these countries are poor, and very small, and outsourcing to a bigger, friendly neighbour makes sence.
The world is becoming more and more dependant on Chinese production of everything else, physical currency isn't much different. I am not hugely concerned, Paper currency (or Plastic in Australia's case) probably won't exist in 10 years so it's a short term industry in my opinion anyway, if they can do it cheaper, then why not.
I would like to believe that your government would put appropriate safeguards and security measures in place, and have a backup plan in case something goes wrong... Or is that expecting too much from politicians.
Thanks for this amazing reply. I totally appreciate your time and effort @jk6276
"outsourcing currency may be worth the risk"
You might be right. Somehow Im still feeling uneasy about this idea. To put that much trust in China? Could costs of manufacturing your own money be really worth it?
At the same time I wouldnt hestitate to trust country as transparent and following law as Australia. I think that's a major difference. Wouldn't you agree?
Thanks again for your comment
Yours
Piotr
I agree to a point @crypto.piotr. There are many other commodities that are dominated by Chinese manufacturers. Is there any less risk in outsourcing them than printing of paper currency. Many nations are well down the path of dependence on China (Australia is most definitely one of them).
Is it preferable to bring China into further engagement and trade or to restrict and sideline a very strong, ambitious nation.
Specifically related to paper money, banks and financial institutions can create vastly more money than printing presses, so in this day and age, is the sovereignty risk actually that significant.
As for Australia, it would be completely unsurprising if we sold our currency production assets to a Chinese company anyway. A large amount of our property and businesses have already been sold out.
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Thank you again for your reply @jk6276.
Appreciate.
hi again @jk6276
Again thx for sharing your view.
I don't have much voting power now (I delegated most of my SP to few bloggers to help them grow) so my upvotes are not worth much. To show my appreciation I'm sending to you 0.5 STEEM. Not much but always something :)
Yours
Piotr
I really appreciate the gesture. Your topics @crypto.piotr are always thought provoking and I appreciate that you find value in my contributions.
Have a great day.
Posted using Partiko Android
I really really do. I've managed to get to know a number of valuable people here on Steemit and learning from you guys is currently my main reason why Im on this platform :)
Printing money for other countriesn does not seem cool but it will be most important to see how these countries and their various markets react to this.
Hello @crypto.piotr , I'm not much of an account person but I also know that the minting of currency is done in accordance with world bank agreement and specifications. Therefore, if China is printing currency for Brazil anad Poland, it's has be in accordance with a prescribed economic rule that requires serious guidelines. The world Bank takes these regulations very serious to avoid impending inflation. Cases like Venezuela will be a lesson to everyone. Thanks for the active topic though.
for whatever reason, sovereignty should not be shared
hi @kabasakal
Thanks for sharing your view. It seem that we're both on the same page here.
Yours
Piotr
I am not surprised if China is doing that and I do not think it their fault. I blame those taking such sensitive contracts to them.
always remember, chinese products are not longer lasting.