Monday, September 28, 2015

China adds new Eurasian country into its fold of bi-lateral currency and trade nations

On Sept. 27 China announced a new agreement with the nation of Georgia to conduct currency swaps and direct bi-lateral trade using each others currencies.  This move adds another nation into the fold of trade partners that will function outside the dollar, and widens the growing cracks that are hemorrhaging within the polar dollar reserve currency system.
Since 2013, China, along with the rest of the BRICS nations, have embarked on a global effort to bring a return to bi-lateral trade and end the singular reserve currency system that has been part of America’s hegemony for more than 70 years.  And with recent agreements signed last week with Britain and Argentina, this new one with Georgia will also help bandage sour relations they have with Russia since it will engender trade among the BRICS countries that doesn’t necessarily affect geo-political grievances.


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