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Friday, December 3, 2010

The Dollar Will Survive Russia-China Trade Deal By: Daniel McDowell | Briefing


http://www.worldpoliticsreview.com//articles/7165/the-dollar-will-survive-russia-china-trade-deal
China and Russia announced they will no longer use the dollar to conduct their bilateral trade, but instead will use their domestic currencies, the yuan and ruble, to do so. Some doomsayers have depicted this move as yet another sign of the dollar's imminent decline, but a closer look suggests the deal will have more of a symbolic impact than any tangible economic or geopolitical effects.

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