There was Russia, Brazil, and now Australia. China is forging bilateral trade agreements with these countries, bypassing the USDollar as the transactional currency in the process. The days of the US petrodollar as the global reserve currency are numbered.
http://www.theaustralian.com.au/business/mining-energy/its-yuan-for-the-money-for-twiggy-forrest/story-e6frg9df-1226093397794
Tuesday, July 12, 2011
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