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Pakistan, China and Russia decide to conduct trade in local currencies skip dollars
Business Recorder ^ | March 17, 2020 | Ali Ahmed

Posted on 04/02/2020 7:02:49 AM PDT by NImerc

The eight-member countries of the Shanghai Cooperation Organization (SCO), including China, Russia, and Pakistan, have made the principle decision to conduct bilateral trade and investment and issue bonds in local and national currencies instead of US dollars.

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


TOPICS: Breaking News; Business/Economy; Foreign Affairs; Front Page News; News/Current Events; Russia
KEYWORDS: china; dollar; dollars; economics; iran; northkorea; pakistan; russia; sco; trade; usd; usdollar; usdollars
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To: kabar

So this peaked my interest some more and I’ve been reading up on it.

Three trillion in reserves won’t last the Chinese long. They’ve never shown any hesitation to ‘loan’ that money to any domestic company that promised to keep people employed. Currently they’re going at about a rate of $100 billion a week. Second, I hardly trust their numbers so I went looking after what we can prove. Apparently their container exports are already down 17% from this time last year and are still dropping. Reuters says it’ll be down 30% at the low end.

Ask of last week 25% of Chinese firms reported orders were down at least 50% and most of their activities were processing backlog orders. Again people are ‘at’ work but commodity orders and prices have both dropped and according to Bloomberg the average state owned enterprise is only operating at 75% (numbers again I don’t trust).

As for entergy prices, they help them as much as they help us...as in they mitigate the pain but don’t help all too much. No one’s flying, driving, shipping, etc. They do save money on oil imports from the middle east, who of course demand dollars.


61 posted on 04/02/2020 12:57:10 PM PDT by Raymann
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To: NImerc

Who cares? Why won’t they trade in whatever they want?


62 posted on 04/02/2020 1:55:49 PM PDT by NorseViking
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To: dp0622

So if no private company wants to make the product in the US, do you start a national company capitalized by taxpayers? Like Off-Track Betting, the NY Port Authority, etc.?


63 posted on 04/02/2020 5:12:29 PM PDT by Eleutheria5 ("SHUT UP!" he explained.)
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To: Eleutheria5

I can’t answer stupid questions tonight. It’s been a long day.

And you’re just bored and looking for an argument.

Go bother your wife :)


64 posted on 04/02/2020 5:25:54 PM PDT by dp0622 (Radicals, racists dont point fingers at me I'm a small town white boy Just tryin to make ends meet)
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To: dp0622

She told me to go bother freepers.


65 posted on 04/02/2020 10:50:07 PM PDT by Eleutheria5 ("SHUT UP!" he explained.)
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To: PIF

They always had quantity. It didn’t stop the West from dominating and defeating them time and again. Quality usually trumps quantity.

Luckily for us America has quantity also. Our military forces are the largest in terms of weaponry.

With Asia (and China especially) it was always about Eastern numbers versus Western firepower. Firepower usually prevailed.

China has no future as a great power. They are aging at a rate never before seen on Earth. Their workforce is already in decline. In a few decades 40% of their population will be over age 65. All this will sap their economic and military vitality.


66 posted on 04/03/2020 10:21:10 AM PDT by Vaden (First they came for the Confederates... Next they came for Washington... Then they came...)
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To: NImerc
Lets combine the forces of our 3 worthless currencies and make it valuable while oils in the crapper.

More confirmation the Chinese are out of foreign currency

More likely Putin knows Xi in lots of trouble and is going to scam him one last time.

67 posted on 04/03/2020 6:37:26 PM PDT by datricker (Cut Taxes Repeal ACA Deport DACA - Americans First, Build the Wall, Lock her up MAGA!)
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To: ClearCase_guy

OMG ifv this is true its worse than I thought !


68 posted on 04/03/2020 9:20:51 PM PDT by KTM rider ( .......than to post and remove all doubt)
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To: kabar

Somebody better do a lot of QC checking of those masks. The vast majority of N95 masks made in China do not meet the specs because the machines to make the media properly are in very short supply, and have long backorders. They are NOT easy machines to just copy or run.

I’m not saying the Chinese can’t develop the tech, but right now they only have it in very limited supply.


69 posted on 04/04/2020 8:23:57 AM PDT by Paul R. (The Lib / Socialist goal: Total control of nothing left wort h controlling.)
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To: freedomlver

That is only legit for export economies but wrong on many levels for nations with unfavorable trade disbalance.
Twice unfavorable for US because of the structure of pension saving system.


70 posted on 04/04/2020 8:39:13 PM PDT by NorseViking
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To: NImerc; All

Sh!t, I TOO would love to return to real $$ instead of the U.S. monopoly paper...

As a proponent of the Nat. Sales Tax (Fairtax w/o the asinine ‘prebate’), barter/trade/re-use & LOCAL should be encouraged.

Course, I’m not one of the crowd high-five’in another $2T of illegal, unconst. taxpayer expenditures either. Use ‘crazy’ (L), ya’know.


71 posted on 04/05/2020 11:53:54 AM PDT by i_robot73 (One could not count the number of *solutions*, if only govt followed\enforced the Constitution.)
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To: pangaea6

China COULD beat the USA if it ditched the communist party. They are a highly mercantile people — I mean Chinese people in much of Asia.


72 posted on 08/13/2020 6:52:21 AM PDT by Cronos (Re-elect President Trump 2020!)
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