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Dollar dump? Russia & China agree to bilateral trade in national currencies during Putin-Xi meeting
RT News ^ | 06/05/2019

Posted on 06/05/2019 12:02:23 PM PDT by SeekAndFind

Russia and China took another step away from the US dollar after the two countries agreed to develop bilateral trade using the ruble and the yuan. It was just one of the major deals reached after the presidents of the two countries, Vladimir Putin and Xi Jinping, held talks in Moscow on Wednesday.

“Russia and China intend to develop the practice of settlements in national currencies,” Putin told journalists at the news conference following the talks. He added that the states have signed intergovernmental agreements on expanding the use of the yuan and the ruble in bilateral financial operations.

A draft government decree on the national currencies trade was released earlier during the day. The document stipulates that Moscow and Beijing will cooperate on development of national payment systems, as well as facilitate cross-border payments in national and other currencies.

During the signing ceremony other major agreements were reached. Russia’s state nuclear company Rosatom and China National Nuclear Power (CNNP) penned a general contract on building the third and fourth units at Xudapu nuclear plant in northeastern China.

It was earlier reported that the deal is worth $1.7 billion and construction is scheduled to begin in October 2021 and August 2022.

In another major deal, inked following the high-level talks, the Russian Direct Investment Fund (RDIF), China’s Alibaba, and Russia’s Mail.Ru Group agreed to invest a total of $382 million into an e-commerce joint venture. Alibaba Group is to provide some $100 million, while the rest will be funded by the Russian side.

(Excerpt) Read more at rt.com ...


TOPICS: Business/Economy; Politics; Society
KEYWORDS: china; chinarussia; currencies; dollar; ntsa; putin; russia; russiachina; trade; xi
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21 posted on 06/05/2019 12:55:08 PM PDT by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: Jim Robinson
”They’ve held long-term plans for us and our government has been blind.”

I beg to differ, Jim.

Our government has been complicit.

~Easy

22 posted on 06/05/2019 12:58:42 PM PDT by EasySt (Say not this is the truth, but so it seems to me to be, as I see this thing I think I see #KAG)
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To: vikingd00d

Watch Mexico and Canada join the juju pot!!


23 posted on 06/05/2019 1:00:01 PM PDT by RoseofTexas
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To: Jim Robinson; All

I think many if not most people, even here, would be surprised out how they’ve also been teaming up militarily over the past couple of decades. We don’t hear hardly anything about in the snooze media.

They have been holding massive annual joint war games since 2005. They now have a second series of joint exercises.

I have a whole section on this on my FR Home page.

If interested, see “On the Russia-ChiCom front...” within the newly created table of contents.

http://www.freerepublic.com/~etl/


24 posted on 06/05/2019 1:00:16 PM PDT by ETL (REAL Russia collusion! Newly updated FR Page w/ Table of Contents! Click ETL)
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To: mac_truck

mac_truck, you are one of KGB Putin’s biggest admirers on the site. You only rooted for Trump because you (wrongly) thought he woulds be soft on Russia. You must feel awful now seeing how Trump-Pence has undone practically all the dangerous (for us) deals the Obama-Biden-Hillary admin made with them.


25 posted on 06/05/2019 1:06:14 PM PDT by ETL (REAL Russia collusion! Newly updated FR Page w/ Table of Contents! Click ETL)
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To: EasySt

No doubt, especially with the treasonous Clintoon Crime Family in the WH and later in State. No telling how much military tech info and stuff they sold or gave away to China (and Russia) for personal gain. And then Muslim-Communist Obama giving away the store and his Communist traitor John Brennan heading up the CIA, etc.


26 posted on 06/05/2019 1:27:09 PM PDT by Jim Robinson (Resistance to tyrants is obedience to God!)
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To: SeekAndFind

If they follow thru it will depress the dollar but not much. And it will backfire on them because it will make their goods more expensive in the us.


27 posted on 06/05/2019 2:31:37 PM PDT by Brilliant
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To: SeekAndFind

LOL this will be fun.


28 posted on 06/05/2019 2:38:49 PM PDT by rrrod (just an old guy with a gun in his pocket)
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To: SeekAndFind

beads and shells...


29 posted on 06/05/2019 3:07:31 PM PDT by jimmygrace
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To: SeekAndFind

They will be manipulating their currencies in attempts to screw each other before the ink is dry.


30 posted on 06/05/2019 3:16:17 PM PDT by WASCWatch
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To: ETL

31 posted on 06/05/2019 3:35:48 PM PDT by mac_truck (aide toi et dieu t'aidera)
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To: highpockets

“The most honest President for Life little Putin working with President for Life Winnie the pooh Xi “

At least we have the common decency to exchange the president from one globalist NWO type to another periodically. Besides Trump, from 1988 until today, they are no meaningful differences between any presidencies except for minor style points.


32 posted on 06/05/2019 3:41:19 PM PDT by DesertRhino (Dog is man's best friend, and moslems hate dogs. Add that up. ....)
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To: G Larry

You need to learn about international trade.

This could be the start of the decline in the USD as the reserve currency—what would take its place? No idea.


33 posted on 06/05/2019 7:09:52 PM PDT by Vermont Lt (If we get Medicare for all, will we have to show IDs for service?)
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To: Vermont Lt
You need to learn about red herrings, this could be the start of nothing.

It doesn't hurt the U.S. for Russia and China to trade in their respective currencies.

34 posted on 06/05/2019 7:40:23 PM PDT by G Larry (There is no great virtue in bargaining with the Devil)
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To: Vermont Lt
***This could be the start of the decline in the USD as the reserve currency***

Possible, but not very likely anytime soon. First, note that the publisher of the article is the Russian media... hmmm

Next, as you query: what would take its place? No idea. Right now the U.S. Dollar is the most stable currency on the globe. The Chinese yuan? They constantly devalue it in order to remain competitive. The Russian Ruble? Russia is a power-controlled oligarchy. Britain is proving incapable of rescuing the pound. The EU is determined to prove that socialism can be profitable - and doing a poor job of it.

The U.S. is carrying a somewhat heavy - and dangerous - debt load (with such low interest rates why doesn't the USGVT finance the debt as 'long term' instead of 'short term'?); however, Germany is trying to pay down its debt and it isn't working out as well as they hoped.

If Americans would kick the legion of carpetbaggers out of Congress and return our financial footing to a more stable base, I think under the current leadership we could be in the catbird seat for quite some time.

35 posted on 06/05/2019 7:56:48 PM PDT by Bob Ireland (The Democrat Party is a criminal enterprise)
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To: G Larry; Vermont Lt
I left out the Yen... but, then, what could I say about the Yen that hasn't already been said ad nauseum?
36 posted on 06/05/2019 8:04:41 PM PDT by Bob Ireland (The Democrat Party is a criminal enterprise)
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To: SeekAndFind

China’s economy is TEN times Russia’s LOL!
Ten times!

Putin is Xi’s puppet.


37 posted on 06/05/2019 8:07:05 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
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To: SeekAndFind

Good ...our worst enemies!


38 posted on 06/05/2019 8:51:39 PM PDT by rrrod (just an old guy with a gun in his pocket)
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To: Thunder90; Kronos; Jeff Head

Ping


39 posted on 06/05/2019 11:13:43 PM PDT by StoneWall Brigade (Live Free or Die)
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To: Vermont Lt

“” “” You need to learn about international trade.

This could be the start of the decline in the USD as the reserve currency—what would take its place? No idea.”” “”

The abuse of USD as a tool of foreign policy by US lawmakers would bring USD down earlier than later.
The grotesque sanction regimes targeting not only the entities they don’t like but also their innocent trading partners aren’t helping much.
There is a growing demand for trade instruments which aren’t in US jurisdiction and since there is demand there would be offer.


40 posted on 06/05/2019 11:17:21 PM PDT by NorseViking
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