[BenderBends]

if you are a US citizen working in HK and China, and have the chance that you will need to pay taxes in all 3 countries....

would you prefer to be paid in US, HK, or China?
And what currency would you prefer to keep your money?

with all the news of USD dropping to lowest in 15 years, I wonder if CNY is better?

[climber07]

Originally Posted by BenderBends

if you are a US citizen working in HK and China, and have the chance that you will need to pay taxes in all 3 countries....

would you prefer to be paid in US, HK, or China?
And what currency would you prefer to keep your money?

with all the news of USD dropping to lowest in 15 years, I wonder if CNY is better?

First of all keeping a large amount of money in HKD vs. USD makes no sense as HKD is "pegged" to the USD (meaning the fluctuations in the USD will affect the value of HKD).

Having said that, even given the relative weakness of the USD I would still prefer to keep my money in USD rather than CNY (which is not a free floating currency but rather fully regulated and most importantly lacks liquidity outside of China). You can possibly make an argument that even if CNY becomes de-regulated it's value may be higher than it is now. However, I'd prefer the safety and liquidity of a USD vs. a Commie currency any day of the week.

Given a further choice, Euro or Sterling may be better alternatives (although you can argue that Sterling is a bit overvalued at the moment).

As far as your note on investment, I personally would not advise jumping into the US stock market at the moment as in my view it can lose 10 - 15% of its current value by the end of the year and the first half of next year will most likely be Bearish. However if you can get in late November / early December you probably can make a few bucks on the Santa Claus rally.

[Sleuth]

We stay in USD. Mostly for the reasons that Climber07 gave. The HKD is tied and the CNY is a risk. Putting your trust in the Chinese government is a mistake--just ask the air, water, food supply, blood supply, toy supply and clothing supply.
Plus we will be heading back to the US eventually and so everything will need to be in USD in the end.