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Suprise: China, Russia Quit Dollar

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By Su Qiang and Li Xiaokun (China Daily)

St. Petersburg, Russia – China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

“About trade settlement, we have decided to use our own currencies,” Putin said at a joint news conference with Wen in St. Petersburg.

The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.

The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.

“That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries,” he said.

Putin made his remarks after a meeting with Wen. They also officiated at a signing ceremony for 12 documents, including energy cooperation.

The documents covered cooperation on aviation, railroad construction, customs, protecting intellectual property, culture and a joint communiqu. Details of the documents have yet to be released.

read more http://www.chinadaily.com.cn/china/2010-11/24/content_11599087.htm



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    Total 9 comments
    • Mark Brander

      This a smart move seeing as how they will soon be destroying America as per the plans of the New World Order. They need to be out of the dollar before the missiles fly and the troops parachute in.

      Read close to a dozen eyewitness testimonies regarding the Russian Special forces Obama and the Pentagon already have in America!

      /alternative/2012/06/russian-troops-infilltrate-usa-responsible-for-multiple-attacks-2241939.html

    • Anonymous

      The article came out in 2010. Why is it suddenly news today??

    • Anonymous

      Thanks for the 2010 article, but was probably 2007 or so, since it was updated.

      LOLOLOLOLOLOL!!

      • Old Harry

        Boy did you get that right! I wrote a long response months ago…..”original article”

    • Wretched Infidel

      Yes, bring America down, for its nationalism and independence must come down before the worldwide regime can be brought full-force for Lucifer.

      This is how we do it… out of chaos comes their ‘solution’ and it does involve a whole lot of klling.

    • HDThoreau

      And so it begins.

    • MissingRonnieR

      Imagine how long the paper economy in China would lat if Western Nationcaped down imports, Te Yen woul be almost as worthless as the debt owed to it. Do no think for a second that is not an option, a painful option in the short term, but a clear choice. Their economy is propped up with a stick and their population is barely contained.

    • Anonymous

      Thus far they have only been doing 100 billion in trade. Doesnt look like the FED is going anywhere, nor the US dollar.

    • Wulfrano Ruiz Sainz

      Getting closer to a declaration of war.

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