Pakistan’s central bank announced that it would be officially replacing the US dollar with the Chinese yuan shortly after Washington accused Islamabad of harboring terrorists and Donald Trump vowed to halt US aid to the country.
Companies in Pakistan have been given a green light to use the Chinese yuan in trade with Beijing, a move which could sideline the US dollar and other currencies used there.
Pakistan’s central bank announced that it would be officially replacing the US dollar with the Chinese yuan shortly after Washington accused Islamabad of harboring terrorists and Donald Trump vowed to halt US aid to the country.
Press TV reports:
The State Bank of Pakistan (SBP) said in a statement published on Wednesday that all arrangements for using the Chinese currency for bilateral trade and investment between the two countries had been put in place.
“The SBP, in the capacity of the policy maker of financial and currency markets, has taken comprehensive policy-related measures to ensure that imports, exports, and financing transactions can be denominated in yuan,” the bank’s statement read.
The development came after US President Donald Trump claimed…
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The Most Revolutionary Act 
Good! Now if only all other countries and nations would follow suit and make the dollar worthless, we’d be getting somewhere. They need to start taking a proactive approach to ending the reign of the dollar instead of a reactionary one.
So, should those of us in the U.S. start trading in our ‘dollar’ for the yuan? And please note that I deliberately did not go plural with dollar because most of us have hardly a ‘dollar’ to our name to trade for anything.
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Totally agreed, Shelby. Looks like Trump’s minders took their eye off the ball for a second – I doubt that will happen again any time soon. I also read that that Pakistan (in response to Trumps accusation that they harbor terrorists) are going to eject more than one million Afghan refugees by the end of the month. That is sure to have a major impact on Europe’s refugee crisis. Someone needs to lock Trump’s smartphone away at night like they do with teenagers.
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