Dedollarization: Chinese Bank Lending to Russia More Than Quadruples
The renminbi's increased role in Russia's banking sector indicates further efforts to reduce reliance on the dollar.
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The renminbi's increased role in Russia's banking sector indicates further efforts to reduce reliance on the dollar.
Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan held bilateral talks on Monday, touching upon energy and food security, as well as major regional and geopolitical issues.
In a no holds barred attack on the United States and its Western allies, Russia on Friday called them "major source of instability" in the world, and warned their could be new confrontations in the coming days.
The new era opened with the strategic tour de force inbuilt in the creation of BRICS 11 involves the make-or-break issue of setting up a new international economic/financial strategy.
The de-dollarization of the world economy has been thrust back into the spotlight with the BRICS summit this month, but its outlook is murky at best.