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 ...
What could go wrong????????............
Nonsense!
>>The document stipulates that Moscow and Beijing will cooperate on development of national payment systems
They didn’t agree on trade, they just agreed to form a committee to investigate the possible development of an agreement on trade.
This should be interesting where both parties devalue their currencies to get an advantage on each other.
theyll reduce it to a barter system when their money tries to convert into dollars. there will be a choke point, and both sides will get REALLY mad.
Good luck with all that.
Ok, I’ll trade you our crap currency for your shite rubles. Seems like a plan.
The most honest President for Life little Putin working with President for Life Winnie the pooh Xi are sure to treat each other with respect and good principled business standards.
What a couple of losers.
This is what appeasement buys you. We let them take advantage of us for decades, raping us to the point of losing vast swathes of our manufacturing capacities, but we’ll have ‘peace in our time.’ Meanwhile, China uses their huge trading profits from us to build up their military and when the time is right, they team up with our long-standing cold war enemy number one to work against us. Screw China. We’d best stop importing from them and start building up our own manufacturing base and our own military as fast as we possibly can. They’ve held long-term plans for us and our government has been blind.
Trump's got them where he wants them - if the RINO whores in the Senate don't stab him and America in the back.
Just like Stalin and Hitler, back in 1939.
Because people all over the world want to trade in yen and rubels.
How could you post something from that fake state-owned and controlled “news” outlet RT (Russia Today)?
OIL folks may like this
Chinese Communist Party is clueless
Well said, Mr. JR!!
Russia floats its currency...those commies!
Good luck with all that.
Was about to post the same :)
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