'US
military move response to China dollar dumping'
An
analyst says Washington’s most recent act of military provocation
against China is in retaliation for Beijing’s decision to trade in
its own currency and undermine the US dollar, Press TV reports.
31
May, 2014
Jim
W. Dean made the remarks when talking to Press TV on Saturday about
the US deployment of two of its most advanced long-distance
surveillance drones to a base in northern Japan to spy on North Korea
and China.
“The
big issue behind all of this is China setting up its own reserve
currency with Russia, which is a threat to the [US] dollar
supremacy,” he said.
The
analyst added that the decision by Moscow and Beijing to have their
own trading currencies would “eliminate the [US] weapon” of
imposing sanctions against the two countries using the dollar.
“This
military shadow boxing is just a threat that if you proceed in this
direction we are going to make problems for you,” Dean added.
Earlier
this month, Russian President Putin and his Chinese counterpart, Xi
Jinping, signed multiple cooperation agreements in Shanghai.
The
two leaders signed 49 deals in the fields of energy, transport and
infrastructure which would enable the two countries to bypass the US
dollar and pay each other in domestic currencies. The move is
expected to undercut the domination of the greenback as the
international reserve currency.
In
recent years, Moscow and Beijing have sought to strengthen their ties
to contain Washington.
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