Pakistan China decided to ditch dollar in bilateral trade.

[delta2]

Money comes and goes. Just make sure Pakistan has the deadliest weapons in its stockpile. As long as you chop the hand of a thief and hang him/her if he/she is a government employee in any manner, everything else is irrelevant.

 

[Pakistani Aircraft]

Why did thr civillian goverments allow them to continue after all they were in power werent they

Because they didn't want to be on military's exemplary hit list like Benazir Bhutto.

Can't expect a civilian Government to openly confront a vicious military dictatorship.

 

[Finer]

Hard to say whether it is happy moment for Pakistan or not but this will definitely invite USA to consider the repercussions for Pakistan.

 

[aziqbal]

Hard to say whether it is happy moment for Pakistan or not but this will definitely invite USA to consider the repercussions for Pakistan.

No doubt

But Pakistan is not alone, its under the Chinese umbrella and because of the nuclear weapons Americans can't really drop us 100% even although they would love to

Pakistans GDP has been growing since 2011, steadily reaching 5%+ and as CPEC projects start to kick in post 2018 and into 2020 the growth will sustain itself to 5% and even beyond

If we can reach deals on CPEC 2 in 2020 we can again carry the momentum well into next 12 years

But in my opinion this actually means nothing, we won't get rich like this

However changing the trading currency will, these type of deals change world order and trust me this is a BIG deal even although Western countries are playing it down

Well done to Pakistan and China for coming up with this idea and then realising them

Next I would love to see our loans start to decrease and switch to Asian bank

 

[Solomon2]

The Yanks are not going to like this one bit. Ditching dollar is cardinal sin -

As long as the parties are sticking to IMF (and U.S. Treasury) rules the U.S. will be fine with it.

Been expecting this for a while because the CPEC project provides enough of the currencies to the parties to make it possible. The question a year ago was the practicality: the mechanisms were in effect in theory but not in place in practice: if it's not convenient and has to be forced the time costs will slow and reduce Pak-China trade rather than speed it up. Especially if the market-clearing mechanism between the two currencies isn't efficient at the local level.

 

[Foxtrot Delta]

Point of this deal is we can import and trade with china without worrying if we have USD in reserves or not. I hope weapon system purchase is included too

 

[313ghazi]

Brilliant news. This will increase value of our currency and remove the reliance on usd. Imran Khan making Pakistan independent, one step at a time.

 

[jamal18]

No? Pakistani military allowed 430 US drone strikes on Pakistani territory from Shamsi Air Base.

Yes, they assisted the US in killing their own people.

 

[Dark-Destroyer]

Because they didn't want to on military's exemplary hit list like Benazir Bhutto.

Can't expect a civilian Government to openly confront a vicious military dictatorship.

well there you have it you have told your self that these leaders are self serving thief's now you need to take some time out and understand that and install it into your brain

 

[Pakistani Aircraft]

well there you have it you have told your self that these leaders are self serving thief's now you need to take some time out and understand that and install it into your brain

What's there to understand? A military paid by another country kills it's own Prime Ministers if the PMs defy foreign demands.

Not a very enlightened military.

 

[delta2]

What's there to understand? A military paid by another country kills it's own Prime Ministers if the PMs defy foreign demands.

Not a very enlightened military.

What the hell have you been smoking? What is your opinion about what happened to JFK?

The prime minister you are crying about was convicted of murder, hanging is a just result in my opinion, especially if the perpetrator was sitting at the highest post in the land. Who do you think is going to ensure justice prevails in such scenario, the Tourism Ministry?

 

[GumNaam]

What the hell have you been smoking? What is your opinion about what happened to JFK?

The prime minister you are crying about was convicted of murder, hanging is a just result in my opinion, especially if the perpetrator was sitting at the highest post in the land. Who do you think is going to ensure justice prevails in such scenario, the Tourism Ministry?

not smoking, but eating...eating khotay da gosht...YUMMMMMMM!!!

 

[BATMAN]

Is Pakistan going to print Yuan?

 

[Path-Finder]

https://twitter.com/x/status/1059136011660341249

 

[Hakikat ve Hikmet]

As far as the USA is concerned, Pak's primary job is to make her policymakers' life harder with newer challenges having very few solutions!!! Ditching Pak was the worst decision the USA had ever taken....

As long as the parties are sticking to IMF (and U.S. Treasury) rules the U.S. will be fine with it.

Been expecting this for a while because the CPEC project provides enough of the currencies to the parties to make it possible. The question a year ago was the practicality: the mechanisms were in effect in theory but not in place in practice: if it's not convenient and has to be forced the time costs will slow and reduce Pak-China trade rather than speed it up. Especially if the market-clearing mechanism between the two currencies isn't efficient at the local level.

Their plan probably is to initiate a Chinese IMF...

so we can buy stuff from ali-express without dollars now?

That's the plan!!! The Chinese Amazon/E-bay/Pay-pal/Google etc....

Money comes and goes. Just make sure Pakistan has the deadliest weapons in its stockpile. As long as you chop the hand of a thief and hang him/her if he/she is a government employee in any manner, everything else is irrelevant.

Unfortunate for some folks, countries like China, Pak etc. know it too well....

USD is the grand mother of all evil.
Remove it from your transactions and your economy is half fixed.

Last time IK successfully dealt with Ian Botham's (a British Cricketer) mother-in-law!!!!! This time he's after somebody's grand mother then....

Pakistani currency is not paper. Dollar only has value because of Saudi oil and Pakistan is now being supported by Saudis so dynamics are different now. China will make CPEC payments in rupee so it will directly benefit us. In this sense we will get three years of free Chinese imports and help our exports grow. Yes we have a trade deficit with China but if you bring CPEC into equation the money China is.pumping back into Pakistan in form of CPEC Investment there is no trade deficit with China.

Folks don't love minute calculations/estimations/projections etc!!!! They want Tarzan-like sound bites of at best two words...

Dollar has no value it's printed from printer ......in auto mode country is under 20 Trillion Dollar debt


Old Way of Doing Trade

• Pakistan buys from China , more Dollar goes out from Pakistani Economy
• China buys from Pakistan, Less Dollar comes back into Pakistani Economy
• Middle Man makes a Nice cut with Dollar Trade, who used to hide dollar

New Way of Doing Trade:

• Pakistan buys from China in Yuan/Rupee, Pakistan maintains a dollar reserve at same level
• China buys from Pakistan in Yuan/Rupee , China not forced to buy Dollar currency
• The same amount transfers between two nations
• No middle man game (money saved)

Many a folk has his/her head chopped off for just mentioning that!!! Anyway, Pak has always excelled in speaking out unspeakable...

View attachment 514507 View attachment 514508

As you can see, it is easier and cheaper for Pakistan to purchase the Yuan than it is the u.s. dollar... most of our hitech products come from China and Chinese companies deal in their own Yuan ANYWAYS... so its a win-win for both. Chinese currency is one step closer to becoming a global central currency while we get purchase the same consumer goods without having to worry about how many usds do we have left.

According to the Indians, too good (if for Pak) to be true.....

Ehh? You miss something. We could let millions of Chinese tourists visit Karachi, enjoy some Indian Biriani, watch some Bollywood movies and have real fun enjoying the local culture. That would earn billions in Yuan.

According to the Indians, hit/miss isn't a stochastic process as far as India and Pak are concerned!!! It's deterministic - 100% hit for the Indians, and 100% miss for the Paks!!!! And, they have a picture of the East Pak garrison surrendering in 1971 to prove...