Pakistan Plans Replacing Dollar With Yuan In Trade With China
Don't think the Fed is going to like this one. Losing control???
"Asked if the Chinese currency could be allowed for use in Pakistan, the minister said the Pakistani currency would be used within the country but China desired that bilateral trade should take place in yuan instead of dollars, in yet another push to de-dollarize what China considers its sphere of influence.
"We are examining the use of yuan instead of the US dollar for trade between the two countries," Iqbal said, adding that the use of yuan was not against the interest of Pakistan. Rather, it would "benefit" Pakistan.
It would also show that world that when it comes to Asia, the "superpower" of significance is no longer the US. And so, as China's influence grows, the long-term plan highlighted key cooperation areas between the neighboring states including road and rail connections, information network infrastructure, energy, trade and industrial parks, agriculture, poverty alleviation and tourism.
The CPEC plan marks the first time the two countries have said how long they plan to work together on the project, taking the economic partnership to at least 2030. China has already committed to investing $57 billion in Pakistan to finance CPEC as part of Beijing’s “Belt and Road” initiative to build a new Silk Road of land and maritime trade routes across more than 60 countries in Asia, Europe and Africa.
Addressing the launching ceremony Chinese Ambassdor to Pakistan Yao Jing said the long term plan would expand the scope of cooperation in various new areas, including cooperation in social sectors along with economic fields. “CPEC was a national plan approved by the both the Chinese and Pakistan government.” It will effectively match relevant national plans of China as well as Pakistan Vision 2025."
For more from the article click below
http://www.zerohedge.com/news/2017-12-21/pakistan-plans-replacing-dollar-yuan-trade-china
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You guys are great and a big help to getting us newbies to understand how to do things and also give us motivation to keep going strong in the beginning... I encourage every new person to learn how you work (simple directions that you list above). Thank you and happy holidays!
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You are welcome and its my pleasure to work with you. I'm kinda figuring out some of the issues with how it all works in my mind, and I certainly learn more every day. I get the concept of gaining more SteemPower, but still trying to wrap my mind around the "buying up the orderbook" and how that process flows. But I'm sure I'll get it down soon, but nevertheless I wanted others to understand what a valuable service (and resource) that you are to them (especially the new ones like myself).
You guys rock!
You know, currency is such a crazy concept. Just think we started with trading stuff for stuff, currency backed by gold and now decentralized digital currencies. Good post!
exactly @jrmiller87. backed by nothing ever since Nixon took us off the gold standard in 1972. And even before that, all currencies are based on what people are willing to accept if for. Guess who influences that decision the most? ;)
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STOPWow ^^ Dave..,look at all those fancy badges they are handing out this morning. I've been here about the same time, posted a few things and i'm not worth a plug nickle! ;)
Anyway, seriously now, The Fed won't like it, but the Fed knows it. Even the all mighty fed can't stop history and history says fiats don't tend to make it much past 50. The fed may go away, but the individuals that profit from it won't and we need to know what system they will crash in to so we can profit also.
hahaha not sure my nickel is worth much either (even with all those badges)...
Very good point on the Fed and the people behind it, couldn't agree more. People think the Fed is there is "help" us people to survive and prosper, when in fact the opposite is true. It is a tool to control us and keep them in power. And I agree they will be the ones who pick the next system too. And also agree very much that it is our job to keep our eyes open and gain when we see what path they take. We are in sync.
Resteemed your article. This article was resteemed because you are part of the New Steemians project. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch
Thank you very much again gaman! You're awesome!