Pakistan China decided to ditch dollar in bilateral trade.

[Fawadqasim1]

Pakistan and China have decided to throw dollar out of bilateral trade and use local currencies.

https://twitter.com/x/status/1059058501052436480

https://twitter.com/x/status/1059107873089826817

Sir can you enlighten us about the six billion dollars bailout package for Pakistan. Or was it just a rumour.

 

[AZADPAKISTAN2009]

Great Historic decision

China-Pakistan trade Pakistan gets 100% benefit from purchases and exports no middle man stealing processing fees

 

[GumNaam]

Will China trust our currency? Or we have to deal in yuan? Dollar we can get from different sources but from where we get yuan?

of course, this was China's idea to begin with.

 

[Fawadqasim1]

But it will be limited to some amount e.g twenty billion yuan etc. Because there is a huge trade deficit between the two countries
In favour of china what will Chinese do with extra Pakistani paper.

 

[Test7]

How would Pakistan get Chinese currency

Will China trust our currency? Or we have to deal in yuan? Dollar we can get from different sources but from where we get yuan?

I guess there will be swap agreements between countries.

https://www.reuters.com/article/us-...idUSKCN1N00GD?feedType=RSS&feedName=worldNews

 

[GumNaam]

Now, the significance of "two weeks" notice has become clear!!!

exactly...thank God their design fell flop on its face and no lives were lost.

 

[SuvarnaTeja]

How would Pakistan get Chinese currency

Since it is almost impossible to export anything to China, the best bet would be

 

[Pakistani Aircraft]

Pakistan isn't iraq nor libya. they can't come after us for ditching the usd.

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

 

[GumNaam]

No? Pakistani military allowed 420 US drone strikes on Pakistani territory from Shamsi Air Base.

you missed my point...we did not fall apart like the other countries did. Iraq and Libya were basically finished while we are still here, alive and kickin'...

 

[Abdussamad]

This is recycled news. They've been saying this for years. However trade continues in dollars because a) importers and exporters find it simpler to deal in the US currency and b) in order to get access to renminbi you have to get LCs for the whole amount while in most cases traders are used to underinvoicing and remitting payments through alternative channels. So it's just not going to happen. I'm guessing they've recycled this news now because IK has nothing to show for his visit to China and they need a win for propaganda purposes.

 

[Hakikat ve Hikmet]

exactly...thank God their design fell flop on its face and no lives were lost.

Man proposes GOD disposes....

 

[Fawadqasim1]

Pakistan and China have decided to throw dollar out of bilateral trade and use local currencies.

https://twitter.com/x/status/1059058501052436480

https://twitter.com/x/status/1059107873089826817

But it will be limited to some amount e.g twenty billion yuan etc. Because there is a huge trade deficit between the two countries
In favour of china what will Chinese do with extra Pakistani paper.?

 

[Dark-Destroyer]

No? Pakistani military allowed 420 US drone strikes on Pakistani territory from Shamsi Air Base.

No the goverment in power allowed the drone strikes and the military is under the goverment so go ask zadari and nawaz

 

[SuvarnaTeja]

Will China trust our currency? Or we have to deal in yuan? Dollar we can get from different sources but from where we get yuan?

See Pakistan can get Reals, Dollars, Pounds etc from Pakistani expats but it would almost impossible to get huge amounts of Yuan either through Pakistanis expat remittances or Pakistani exports to China.

This will be a tough hill to climb.

Now this if true is a positive development.

Positive development on paper only.

 

[xyxmt]

This is recycled news. They've been saying this for years. However trade continues in dollars because a) importers and exporters find it simpler to deal in the US currency and b) in order to get access to renminbi you have to get LCs for the whole amount while in most cases traders are used to underinvoicing and remitting payments through alternative channels. So it's just not going to happen. I'm guessing they've recycled this news now because IK has nothing to show for his visit to China and they need a win for PR purposes.

that is because the assumption was that Pakistan will be able to earn Chinese currency by exports, they under estimated the power of laziness and hud harami of Pakistani public...they can only be fixed by an honest politician.