Tuesday, June 24, 2014

China forms new trade agreement with Britain outside the dollar

It seems almost to be a daily occurrence now that both Russia and China are finalizing new trade agreements with nations that will facilitate the use of their own currencies in trade settlements, and bypass the dollar system that has stood for more than 40 years.  But on June 19, this trend ratcheted up to a whole new level when China signed a deal with America’s biggest ally Britain that will allow direct trade between the two nations using only the Pound and Renminbi.

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