Rich Man’s World

I had forgotten about the money here.  The largest note that the central bank issues is a 100 RMB note, shown below.

Please excuse the oversaturation on the image, it’s not my scan.  At any rate, 100 RMB is worth roughly $12 or so. Imagine how thick your wallet would be if you had to carry around all your money in $10 bills.  Wanna go out for a night on the town and you feel like taking $400 or so?  That’s FORTY $10 bills in your wallet.  So when you fold your wallet in half to stick it in your pocket, you feel like George Costanza.  What a pain in the ass.  I’m looking at my wallet now and it’s almost 4” thick, with my credit cards and everything.

Yes, yes, I know I could get a money clip.  But still, China needs to get with the program and come up with a 200 or 500 RMB note.

maybe get a fanny pack?

They could always let their currency float on the open market… those 100RMB notes might be worth something then…

Well, at least we’ll be good for a while out here.  It is strange that they don’t just invent a bigger bill.  It’s not that hard is it?  Although I guess it would make a tastier target for counterfeiters.

Lee,

Someone told me that everyone in China pays in cash.  Have you notice that?

david

Yes, it’s the absolute truth.  Everyone pays in cash.  Credit cards and checking accounts are new concepts to people here.  When I checked into this hotel (pretty damn nice hotel) they asked me for 500 RMB for incidental charges rather than a credit card.

Plus, cash doesn’t leave a paper trail, so if you need to grease the odd palm or two it doesn’t hurt to have a wallet full of 100s.

Heh.. reminds me of the one time I actually left Vegas ahead of the game.  Won about $4500 at a Let it Ride table.  Man was my wallet packed on the drive home.