China And Russia Quit Dollar

Nos scimus quoniam translati sumus de morte in vitam, quoniam diligimus fratres; qui non diligit, manet in morte. (1 John 3:14)

The China Daily reports China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade.

Chinese experts said the move, announced by Premier Wen Jiabao and his Russian counterpart Vladimir Putin, reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

Putin said one of the pacts between the two countries is about the purchase of two nuclear reactors from Russia by China's Tianwan nuclear power plant, the most advanced nuclear power complex in China.

Wen said at the press conference that the partnership between Beijing and Moscow has "reached an unprecedented level" and pledged the two countries will "never become each other's enemy".

The modernization of China is welcome, and the solid and strong Sino-Russian relationship benefits the whole world.

"Crede in Domino Iesu et salvus eris tu et domus tua", Acts 16:31.