Russia and China stand for use of national currencies in payments

Russia and China stand for use of national currencies in payments

Russia and China stand for use of national currencies in payments in the context of existing risks for the global economics, Russian President Vladimir Putin stated, RIA Novosti reports. “Russian and Chinese parties confirmed interest in more active use of national currencies in mutual payments”, Putin said following the Russian-Chinese negotiations. According to the Russian leader, it will increase reliability of banking services of export-import operations. He also added that at the first half of the year, trade between the two countries increased by one third and reached 50 billion dollars. “There is every indication in this connection to believe that by the end of the year we will reach a record level of trade amounting to 100 billion dollars”, Putin added. According to ITC Trade website, last year trade between Russia and China reached 87.4 billion dollars, of which 39 billion dollars amount Russia’s export to China, and 48.7 billion dollars are import from China. Kirill Dmitriev, head of Russian Direct Investment Fund, stated that the Fund plans to make first transactions with China in national currencies starting from 2019. According to Dmitriev, the Fund has agreement with China Development Bank on this subject. Speaking at the Eastern Economic Forum in Vladivostok, Dmitriev stated that the project was highly appreciated and first investments will come in 2019.

Turkiston: Although every country has its own currency, its currency is evaluated with respect to the US dollar. Its monetary value always changes in relation to dollar. Consequently, every country will evaluated in relation to dollar in its trade relations with other countries. Because last century, the United States managed to draw gold and silver from universal monetary value and to introduce its own financial, i.e. dollar system. Now, hegemony of the US dollar can be stopped only by introducing a new system based on gold equivalent. For that purpose, it is necessary to change existing international global economic politics. It is possible only after building new ideological system of global government.

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