Russian Prime Minister Vladimir Putin. © RIA Novosti. Alexey DrujininRussia, China Lift Restrictions On Trade In Ruble And Yuan -- RIA Novosti
Russia and China have lifted restrictions on trade in the rubles and the yuan in a bid to boost bilateral trade and economic cooperation, following the results of a meeting between Russian Prime Minister Vladimir Putin and his Chinese counterpart Wen Jiabao on Tuesday.
"This is a serious step forward towards creating better trade conditions and this is the result of the strengthening of our economies," Putin said.
Read more ....
More News On China - Russia Abandoning The U.S. Dollar
China, Russia quit dollar -- China Daily
Putin Says Russian Yuan Trade to Start Next Month -- Bloomberg Businessweek
China Starts to Trade Yuan Against Ruble -- Moscow Times
Rouble trades in China, more currenices to come -- Forexpros
Russia leading provider of armaments, helicopters and engines for China's airplanes -- Avionews
Should You Be Scared That China And Russia Just Agreed To Drop The Dollar? -- Business Insider
My Comment: This is a natural relationship for both countries to pursue. They are neighbors, with China purchasing technology and resources from Russia, and Russia buying products and goods from China. Trade is very small now .... but the structure has now been put to expand trade significantly .... and expand it will. This is very big news .... and ... of course .... it is being ignored by the U.S. main stream media.
As for the U.S. dollar .... it's decline in importance is not surprising. Reckless spending and uncontrollable debts has led the U.S. dollar to where we are today .... and it can only get worse as the same policies continue. The rest of the world is now realizing this, with the only exception being most of the American public and it's political class.
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