Japan and China to start direct currency trading on Friday

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  • 0

    gurudaimon

    USA is bound to make some issue out of this.

  • 0

    gogogo

    Sounds good, are there any risks?

  • -3

    danalawton1@yahoo.com

    Typical Lip Service style set up between two countries that would cut each other's throat if they had the chance. This was something that each side's monetary diplomats and politicians did just to have something to do.

  • -2

    whiskeysour

    OK

  • -2

    darknuts

    Yet another nail in the dollars coffin.

  • 0

    Silvafan

    This is going to hurt the US but it will be good when I send money home. I also think in the long run it will also be bad for Japan too.

  • -1

    Silvafan

    I also think it is another way to allow more Chinese to come to Japan long term. One of the big deterents at the moment from large scale migration has been the relative high standard of living.

    Once the yen goes down a little then more will be able to come over. There is reason why most major cities in the world all have long term Chinatowns.

  • 0

    James C. Foy

    Darknuts is right. China is trading with Brazil, Russia, and India (BRIC nations), as well as equipment for oil from Iran. The "Middle Kingdom" is becoming the center of the financial world. The US petro-dollar is in hock to China and as demand for something decreases (in this case the dollar) it loses value. This move puts the US in more economic bondage to China.

  • 0

    Pianki Bankole

    ****This is just great. Longggg over due. The Asian nations should start an Asian Union along with South Korea. Way ta go.

  • 0

    Karsten Matthijs Hartog

    ‎"By not using the dollar as an intermediate currency “we can lower transaction costs and reduce settlement risks at financial institutions as well as making both nations’ currencies more useful”, he added." they benefit, the collective benefits

    What do they mean with 'reduce settlement risks'?

  • 0

    Piet Smit

    @Karsten - maybe an imploding dollar is a settlement risk? Just guessing...

  • 0

    Dukke

    "*****Typical Lip Service style set up between two countries that would cut each other's throat if they had the chance. This was something that each side's monetary diplomats and politicians did just to have something to do******.

    well now, since you brought it up.. what do you think the USA has been doing to every other country on this planet? we have destroyed many nations on lies, and you believe we are better? lol

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