Pakistan encouraged to use Yuan amid China's de-dollarization trend

[Abdussamad]

this is chinese move and we have no choice to fall for it.

I have no clue what that means.

 

[maximuswarrior]

But I thought that the whole point of the bilateral agreement was to move away from the USD.

You are acting like this hasn’t happened? Pakistan has moved away from the US sphere.

The US doesn’t even have an ambassador in its spying HQ.

 

[HAIDER]

I have no clue what that means.

simple , pakistan is kinda victim of us china currency war. us want china to float its currency in open market. but chinese govt kept on controlling the exchange rate. we ll dicuss later the impact of yuan on pakistan trade and industry .

 

[Abdussamad]

simple , pakistan is kinda victim of us china currency war. us want china to float its currency in open market. but chinese govt kept on controlling the exchange rate. we ll dicuss later the impact of yuan on pakistan trade and industry .

We are not using the yuan for trade though. Also we are not helpless children. We can decide for ourselves what we want. Our govt. agreed to this swap facility and it is using it not for trade but to borrow dollars. That's how it's playing out.

China wanting to internationalize its currency is well known. There is no harm in them trying it.

 

[HAIDER]

We are not using the yuan for trade though. Also we are not helpless children. We can decide for ourselves what we want. Our govt. agreed to this swap facility and it is using it not for trade but to borrow dollars. That's how it's playing out.

China wanting to internationalize its currency is well known. There is no harm in them trying it.

China and Pakistan to use yuan in bilateral trade



Associated Press

Published: 6:33am, 3 Jan, 2018

Updated: 2:55pm, 20 Jul, 2018

 

[Abdussamad]

@HAIDER see posts 3 and 8 in this thread for why that's not actually happening.

 

[HAIDER]

@HAIDER see posts 3 and 8 in this thread for why that's not actually happening.

i agree what you are saying , but when you import from china or when pakistani investor invest in chinese market then they have to follow there strict rule and you know well chinese are very very hard bargainer .. some of cpec clause are very dirty and will be forced to implement.

 

[VCheng]

http://return.pk/2018/12/26/traders...s-for-slow-response-to-yuan-based-settlement/

Also from a more reputable source:




The real reason why traders don't use it:

The USD is dead anyway, but Pakistan will need it for quite a while yet, it seems.