Chile is the latest country to launch Renminbi swaps and settlements with China
China and Chile agreed Tuesday to upgrade their bilateral ties to a strategic partnership, and double trade in three years.
Chinese Premier Wen Jiabao and Chilean President Sebastian Pinera announced Tuesday the establishment of China-Chile strategic partnership and the completion of negotiations on investment-related supplementary deals to a bilateral free trade agreement.
During their talks, Wen urged speedy signing and ratification of these supplementary deals and called for the finalization of the China-Chile free trade area.
Wen called on the two nations to expand trade in goods, promote trade in services and mutual investment, and double bilateral trade in three years.
The Chinese leader also said the two countries should enhance cooperation in mining, expand farm product trade, and promote cooperation in farm product production and processing and agricultural technology.
China would like to be actively engaged in Chile’s infrastructure construction and work with Chile to promote the development of transportation networks in Latin America, said Wen.
Meanwhile, Wen suggested that the two sides launch currency swaps and expand settlement in China’s renminbi.
So to summarize, the list of countries that China is transacting with directly (that we know of), andbypassing the USD entirely, is as follows:
- and now, Chile
In other words, it looks like the BRICs already have their “bilateral” arranagements all sorted out, and are now quietly moving into other suppliers of key resources with swap deals, all without any mention of the word “dollar.”
How soon until China re-dips its toe in Europe with a modest “bailout” nobody can refuse in exchange for a simple caveat: you get paid in renminbi?
whilst you were sleeping they dumped the USD..not louldy..just softly..one by one..they are ready for the collapse..