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Russia's top diplomat starts China visit with call to reduce U.S. dollar use

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FILE PHOTO: Russia's Foreign Minister Lavrov attends the Afghan peace conference in Moscow
Gabrielle Tétrault-Farber and Andrew Osborn
Mon, March 22, 2021, 3:36 PM GMT+7


By Gabrielle Tétrault-Farber and Andrew Osborn
MOSCOW (Reuters) - Russian Foreign Minister Sergei Lavrov began a visit to China on Monday with a call for Moscow and Beijing to reduce their dependence on the U.S. dollar and Western payment systems to push back against what he called the West's ideological agenda.
Lavrov, on a two-day visit to China, is expected to hold talks with his Chinese counterpart at a time when both countries' ties with the administration of U.S. President Joe Biden are badly strained.
U.S. and Chinese officials on Friday concluded what Washington called "tough and direct" talks in Alaska, while Russia's ambassador arrived back in Moscow on Sunday for consultations after Biden said he believed President Vladimir Putin was a killer.

Russia is also braced for a new round of U.S. sanctions over what Washington says was its meddling in the 2020 U.S. presidential election, which Moscow denies.
Speaking to Chinese media before the start of his visit, Lavrov said Moscow and Beijing were compelled to develop independently of Washington in order to thwart what he said were U.S. attempts to curb their technological development.
"We need to reduce sanctions risks by bolstering our technological independence, by switching to payments in our national currencies and global currencies that serve as an alternative to the dollar," Lavrov said, according to a transcript of his interview released on Monday.
"We need to move away from using international payment systems controlled by the West."
Ahead of his visit, a Chinese state newspaper, The Global Times, suggested Lavrov's trip was a sign of how close China-Russia coordination would offset the impact of what it called "U.S. troublemaking."
"The timing of Lavrov's visit is noteworthy as it means Russia is the first country China shares information and opinions with on key issues after the China-US face-to-face communication," it said.
(Reporting by Gabrielle Tétrault-Farber and Andrew Osborn; Editing by)
1616423433351.png
 
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China replies, "Thanks, but most of our power comes from the USD. We are the factory of the USA thus we have an almost endless supply of USD. You, Russians, don't thus we can buy pretty much anything from you. Same for the rest of the world. haha"
Lavrov replies, "Oooh :( "

China, "In fact the more USD the USA prints the better for us. You, Russians along with most others, get poorer. We, Chinese, keep earning gobs of USD so we get richer. haha To be rich is beautiful."
 
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Hearing this from past 8 years from Russia
To ditch dollar.

Now China is the only hope they have.
 
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Hearing this from past 8 years from Russia
To ditch dollar.

Russia is not only talking but also doing:

"at the end of February, Russia changed the structure of the National Welfare Fund, converting 5% into Japanese yen and 15% into Chinese yuan. At the same time, stores of the US dollar and the euro were reduced from 45% to 35%, while the share of pound sterling remained at 10%.

De-dollarization has been a long-term policy of Russia for many years, with a focus on relying less on the world's most popular reserve currency. Last year, it was revealed that the first quarter of 2020 saw the share of the dollar in trade between Beijing and Moscow fall below 50% for the first time. Just four years prior, this figure accounted for over 90% of their bilateral currency settlements."
https://www.rt.com/russia/517864-dedollarization-national-currencies-trade/

US Empire of Evil would not fall overnight. It will take some time.
 
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The very suggestion will sends chills to USA.
The dedollarisation is worth more than all the bullets and missiles.
It is the Achilles Heed of USA.


It is already ongoing and it will be accelerated esp. after Alaska.
Biden better do something fast to stop the China-USA ties from deteriorating further.
USA bond is already affected.
Don't blame China or Russia, USA asked for it and her wish will be granted. :coffee:
 
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For these conflicts to stop, the DOLLAR needs to be replaced with a new International Currency. Ideally it would be good to have this currency backed by Gold's but it not necessary. But let's start with a New International Currency and a new unified international payment system first. It will give everyone, including the US, a level playing field for trade and economic development and progress.
 
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FILE PHOTO: Russia's Foreign Minister Lavrov attends the Afghan peace conference in Moscow
Gabrielle Tétrault-Farber and Andrew Osborn
Mon, March 22, 2021, 3:36 PM GMT+7


By Gabrielle Tétrault-Farber and Andrew Osborn
MOSCOW (Reuters) - Russian Foreign Minister Sergei Lavrov began a visit to China on Monday with a call for Moscow and Beijing to reduce their dependence on the U.S. dollar and Western payment systems to push back against what he called the West's ideological agenda.
Lavrov, on a two-day visit to China, is expected to hold talks with his Chinese counterpart at a time when both countries' ties with the administration of U.S. President Joe Biden are badly strained.
U.S. and Chinese officials on Friday concluded what Washington called "tough and direct" talks in Alaska, while Russia's ambassador arrived back in Moscow on Sunday for consultations after Biden said he believed President Vladimir Putin was a killer.

Russia is also braced for a new round of U.S. sanctions over what Washington says was its meddling in the 2020 U.S. presidential election, which Moscow denies.
Speaking to Chinese media before the start of his visit, Lavrov said Moscow and Beijing were compelled to develop independently of Washington in order to thwart what he said were U.S. attempts to curb their technological development.
"We need to reduce sanctions risks by bolstering our technological independence, by switching to payments in our national currencies and global currencies that serve as an alternative to the dollar," Lavrov said, according to a transcript of his interview released on Monday.
"We need to move away from using international payment systems controlled by the West."
Ahead of his visit, a Chinese state newspaper, The Global Times, suggested Lavrov's trip was a sign of how close China-Russia coordination would offset the impact of what it called "U.S. troublemaking."
"The timing of Lavrov's visit is noteworthy as it means Russia is the first country China shares information and opinions with on key issues after the China-US face-to-face communication," it said.
(Reporting by Gabrielle Tétrault-Farber and Andrew Osborn; Editing by)
View attachment 726814

Substantial steps to end U.S. imperialism.
 
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For these conflicts to stop, the DOLLAR needs to be replaced with a new International Currency. Ideally it would be good to have this currency backed by Gold's but it not necessary. But let's start with a New International Currency and a new unified international payment system first. It will give everyone, including the US, a level playing field for trade and economic development and progress.

I think a more realistic way is to reduce the proportion of the U.S. dollar in international trade and foreign exchange reserves, so that multiple international currencies coexist. This is enough to combat US hegemonism. Of course, this is also a short-term goal. No one knows what will happen in the future.
 
. .
China replies, "Thanks, but most of our power comes from the USD. We are the factory of the USA thus we have an almost endless supply of USD. You, Russians, don't thus we can buy pretty much anything from you. Same for the rest of the world. haha"
Lavrov replies, "Oooh :( "

China, "In fact the more USD the USA prints the better for us. You, Russians along with most others, get poorer. We, Chinese, keep earning gobs of USD so we get richer. haha To be rich is beautiful."
De dollarisation cannot be done in a single day. We have seen USD percentage shrinking globally everyday gradually.

I think the Russian has reached a point, they are willing to accept more RMB as the main dollar for their international transaction.
 
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Ruskies hitting the Yankees where it hurts most , in the wallet. Attacking the world financial order, uncle Sam isn't going to be happy.
 
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The US has printed $6 trillion to plunder the world. The more tense the US is at this point, the less it has to lose. China is also deliberately ratcheting up the confrontation with the US so that it is impossible for the US to reach an economic agreement with China.

Countries that don't want to be robbed should come to a currency agreement with China as soon as possible.Of course, we will not stand in the way of countries that are willing to be robbed by the US. The yuan trade deal is now the world's Noah's Ark.
 
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