The Chinese Renminbi: A New Kind of Gambling

As U.S. Treasury Secretary Paulson continues to pressure China to raise the value of the Renminbi, it might not be such a bad idea to open an account or two here and watch the money grow. After all, it only costs 5 kwai and a picture ID, no minimum balance required.

Not so fast though, some may say, as China's bad loans amounted to an estmated 500-650 billion dollars last year. That could spell a bad investment, considering the RMB is estimated to appreciate by a mere 3-5 percent in the next year. You're probably better off with a CD account, or, better yet, bring it to Macau. [*Useless fact #1: "The typical Chinese gambler bets $85 a hand, compared with $25 for a gambler in Las Vegas, even though per capita income in America is 34 times as high..."] Scratch everything I said above. Invest in Macau.