Sunday, June 16, 2019

China urges Russia to increase use of local currency in trade to marginalize US — Paul Antonopoulos

Chinese Vice President Wang Qishan called on Russia to strengthen financial cooperation between the two states by increasing the use of national currencies in bilateral trade.
The Chinese politician’s statements are in line with an offer by Russian President Vladimir Putin that suggested that both China and Mongolia join the Russian Central Bank’s financial messaging system and increase the use of national currencies in mutual trade. The president stressed that many countries, specifically Russia, are expressing interest in abandoning the current practice of using the dollar amid instability in global financial markets.
During the St. Petersburg International Economic Forum, Putin criticized the US government for turning the dollar into a tool to pressure other countries. He also urged other states to review the dollar’s current status in light of Washington’s behavior.…
Fort Russ News
Paul Antonopoulos

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