At the recent BRIC meeting Russia and China talked up settling trades in Ruble and Yuan instead of the US Dollar. Russia plans to sell oil to China denominated in Ruble. The USD better get a hold of itself. Survival of the fit only the strong survive....
"June 17 (Bloomberg) -- The leaders of Russia and China agreed to expand use of the ruble and yuan in bilateral trade to lessen dependence on the U.S. dollar a day after they took part in the first summit of the so-called BRIC countries." (Bloomberg.com)
More articles:
UPDATE:Ex-PBOC Gov: Could Buy More Tsys If Dlr Stable-Report (WSJ)
Russia, China should dump dollar in trade - Medvedev (Reuters)
