Source Pravda.Ru

China's yuan to put out to sea?

Russia is interested in China's yuan not to be tied to the American dollar, well-known economist Yevgeny Yasin believes.

Untying the yuan from the dollar will be in focus at the 11th summit of the Asia-Pacific Economic Cooperation forum, opening in Bangkok on October 20.

China tied the two in 1995 and since late 1998 has been using state regulation to maintain a stable yuan-dollar rate.

"Although its economy has strengthened in a short time, China goes on keeping a low rate of the national currency. Thanks to this, China has a competitive edge in foreign trade," Yasin said.

Chinese goods' exports to the United States are exceeding 100 billion dollars, he said. "The United States' and European markets are inundated with Chinese products. China greatly owes its present success to the low rate of the yuan," the Russian expert is sure.

Untying the yuan from the dollar is favorable for Russia, he said.

Comments
Report about USSR's unique lunar mission declassified
Keys to understanding the world from Feminism - Science and Feminism
Sheep disrupt the work of US missile defences in Romania
Sheep disrupt the work of US missile defences in Romania
Russia strongly opposed to reinstating death penalty
Russia's new torpedo carrying 100-megaton nuclear warhead nullifies USA's Prompt Global Strike
Can Russia perform under Soviet flag during 2018 Winter Olympics?
What lies beneath Iran protests
Report about USSR's unique lunar mission declassified
US diplomat makes fool of himself in the Netherlands
Report about USSR's unique lunar mission declassified
German experts name Russia's most dangerous weapon
German experts name Russia's most dangerous weapon
Russian poultry stuffed with antibiotics and dangerous bacteria
Keys to understanding the world from Feminism - Science and Feminism
Sheep disrupt the work of US missile defences in Romania
The Large Families that rule the world
Russians name their biggest sexual taboos
Russia's new torpedo carrying 100-megaton nuclear warhead nullifies USA's Prompt Global Strike
Ukraine suspicious about Russia's intention to give away rusty ships to Kiev
Keys to understanding the world from Feminism - Science and Feminism