Comments on: Dollar-Yuan Diplomacy

By: Sergei

Sergei — Wed, 11 Nov 2009 07:20:04 +0000

Thought I should elaborate on the difference between Yuan and Renminbi. As previously mentioned, yuan is the unit of account, same as Japanese “Yen”, Korean “Won”, and Mexican “peso”. Renminbi, on the other hand, translates into “People’s money” or “People’s coin”.

By: Bob McTeer

Bob McTeer — Sun, 08 Nov 2009 14:34:32 +0000

Thanks to all three of you.

Bob

By: Sergei

Sergei — Fri, 06 Nov 2009 16:58:45 +0000

Yuan is the unit of account. In mandarin, you would say the figure, followed by the word “yuan”, to indicate you are talking about money. Renminbi is the name of the currency.

By: Tamas

Tamas — Thu, 05 Nov 2009 11:38:04 +0000

Great anecdotes. Always a joy to read your posts.

By: Nemo

Nemo — Wed, 04 Nov 2009 23:38:44 +0000

Krugman did a pretty good job of explaining the yuan/renminbi thing a couple of weeks ago:

http://krugman.blogs.nytimes.com/2009/10/23/whats-in-a-name-3/

At least, it was good enough that I now understand it for the first time.