PM Putin suggests Russia, China ditch dollar in trade deals | WHAT REALLY HAPPENED


PM Putin suggests Russia, China ditch dollar in trade deals

Russian Prime Minister Vladimir Putin proposed on Tuesday that Russia and China gradually switch over to national currency payments in bilateral trade, expected to total $50 billion in 2008.

"We should consider improving the payment system for bilateral trade, including by gradually adopting a broader use of national currencies," Putin told a bilateral economic forum.

He admitted the task would be tough, but said it was necessary amid the current problems with the dollar-based global economy.

Webmaster's Commentary: 

Considering the current state of the US dollar (backed by nothing more than a smile from the officials at the Federal Reserve), who can blame Putin for making such a suggestion?

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