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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on July 06, 2009, 12:25:11 AM
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July 6 (Bloomberg) -- Three Shanghai companies agreed to settle import and export contracts in yuan for the first time, as China seeks to reduce the role of the dollar in global trade.
China, Russia and India have said the world economy is too reliant on the dollar and called for changes in how $6.5 trillion in foreign-exchange reserves are managed, before Group of Eight leaders meet this week. The settlement program and sales of yuan-denominated debt overseas are designed to make the currency more attractive for central banks to hold.
“This is a first step on the long road towards that target of making the yuan a global reserve currency,” said Nizam Idris, a strategist in Singapore at UBS AG, the world’s second biggest foreign-exchange trader. “That’s probably going to take five years or more.”
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July 6 (Bloomberg) -- Three Shanghai companies agreed to settle import and export contracts in yuan for the first time, as China seeks to reduce the role of the dollar in global trade.
China, Russia and India have said the world economy is too reliant on the dollar and called for changes in how $6.5 trillion in foreign-exchange reserves are managed, before Group of Eight leaders meet this week. The settlement program and sales of yuan-denominated debt overseas are designed to make the currency more attractive for central banks to hold.
“This is a first step on the long road towards that target of making the yuan a global reserve currency,” said Nizam Idris, a strategist in Singapore at UBS AG, the world’s second biggest foreign-exchange trader. “That’s probably going to take five years or more.”
the usual gang never shows up for these articles. Even India gets it.
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the usual gang never shows up for these articles. Even India gets it.
It's going to be a rude awakening for some.
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Everything is fine, any problems can be taken care of with a good speech, media support, and more government spending and enlargement. Don't worry about other countries and what they think, good times are just another bond float away....kick that can down the road as far as you can.
Besides, Palin is the real news here and I'm sure that Rush Limbaugh said something on the radio this week as well.
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I'll buy USD for 50 cents each from anyone here who wants to sell
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I'll buy USD for 50 cents each from anyone here who wants to sell
On a serious note, do you see these stupid ads - "GOLD FOR CASH".
Who the hell would ever be that stupid to do that???
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I'll buy USD for 50 cents each from anyone here who wants to sell
Of coarse it'll never happen, right?
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Everything is fine, any problems can be taken care of with a good speech, media support, and more government spending and enlargement. Don't worry about other countries and what they think, good times are just another bond float away....kick that can down the road as far as you can.
Besides, Palin is the real news here and I'm sure that Rush Limbaugh said something on the radio this week as well.
Did you take the RED PILL or the BLUE PILL???
Your world is always..EVERYTHIGN WILL BE FINE...WE HAVE EVERYTHING UNDER CONTROL...yeah right.
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Did you take the RED PILL or the BLUE PILL???
Your world is always..EVERYTHIGN WILL BE FINE...WE HAVE EVERYTHING UNDER CONTROL...yeah right.
I think it was sarcasm.