Russia and China are building a “financial alliance” and look set to “ditch” the dollar, according to a report on the Nikkei Asian Review website.
The financial news website reports that the US dollar’s share of trade between Russia and China “fell below 50 percent for the first time on record” in the first quarter of 2020.
The source of the statistic is Russia’s Central Bank and Federal Customs Service, which published figures showing that a relatively low 46 percent of trade transactions between China and Russia were conducted or completed in US dollars. [Read more…] about Russia and China ‘ditch’ dollar and increase use of euro
