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Trade between China and Russia has gone from 90% USD to 90% Yuan. The question is, how many bilateral agreements does it take to make it fait accompli?
by sroussey 6y ago
Trade between China and Russia has gone from 90% USD to 90% Yuan. The question is, how many bilateral agreements does it take to make it fait accompli?
- Iolaum 6y agoEnough that it 'd consist a sizable amount of the trading volume. Then businesses will bother to figure out the FX costs associated with trading in Yuan. And then trading in Yuan has to be more profitable than trading in USD. Don't know enough to evaluate possible outcomes for each step.