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China set to reduce its dependence on the US dollar

Sep 10, 2010

http://www.bloomberg.com/news/2010-09-08/china-russia-push-yuan-ruble-trading-to-diminish-dominance-of-u-s-dollar.html

This agreement is designed to allow Russia and China to do trade without invoices denominated in dollars. By trading in their own currencies, this will reduce the world's dependence upon the dollar and should reduce demand for the dollar. In other words, the dollar is probably set to start sliding in value shortly.


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Category: Financial

Dr. Stephen Jones


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