"The UAE and China have signed several agreements to strengthen their strategic partnership and bilateral trade. These agreements will not only boost the economies of both countries, but also have the potential to change the flow and structure of regional and international trade.
One of the most important agreements is the announcement that the UAE and China have signed a currency swap worth 35 billion yuan. This is part of an ongoing effort by China to make its currency one of the mediums of international trade. Given the continued political and economic mismanagement of the dollar by the US, the strengthening of alternative currencies for international trade is necessary..."
at http://gulfnews.com/opinions/editorials/uae-will-gain-from-building-ties-with-china-1.967773
One of the most important agreements is the announcement that the UAE and China have signed a currency swap worth 35 billion yuan. This is part of an ongoing effort by China to make its currency one of the mediums of international trade. Given the continued political and economic mismanagement of the dollar by the US, the strengthening of alternative currencies for international trade is necessary..."
at http://gulfnews.com/opinions/editorials/uae-will-gain-from-building-ties-with-china-1.967773
