Pakistan considers dumping dollar for yuan in trade with China

[Solomon2]

Does Pakistan really have the luxury of being economically independent even before such a step?

It's not about economic independence but the fact that Pakistan will be yielding a great deal of sovereign decision-making on its trade (and therefore economy) to China, since China will have a say in the exchange rate and therefore what exports from Pakistan will be competitive.

No doubt the IMF and World Bank will be looking at these arrangements with great interest.

 

[VCheng]

It's not about economic independence but the fact that Pakistan will be yielding a great deal of sovereign decision-making on its trade (and therefore economy) to China, since China will have a say in the exchange rate and therefore what exports from Pakistan will be competitive.

No doubt the IMF and World Bank will be looking at these arrangements with great interest.

I think this "consideration" of a change is just to bolster Pakistan's position as it negotiates for the next bailout package, as perceived by the decision makers in Pakistan, rightly or wrongly. To the slave it may not matter who the master is as they do not get to choose.

 

[MultaniGuy]

Perhaps, yet Pakistanis should be aware that this does turn Pakistan from being an independent actor on the world stage into an economic appendage of China.

And since when there were no pawn states for USA such as Japan.

Pakistan will do what is in her best interests.

Don't dictate us bullshit.

 

[Imran Khan]

USA and dollar are already dying . no need to rely on dollars anymore

 

[Solomon2]

USA and dollar are already dying . no need to rely on dollars anymore

If you sell me an apple do you want to be paid in renminbi or dollars? A dollar you can take to the bank and exchange for rupees or use on your next trip abroad. If you accept renminbi for the apple today, what will you do with it?

 

[beijingwalker]

If you sell me an apple do you want to be paid in renminbi or dollars? A dollar you can take to the bank and exchange for rupees or use on your next trip abroad. If you accept renminbi for the apple today, what will you do with it?

Everything is made in China now and I assure you that you can have more choices than an apple with RMB.

 

[StandForInsaf]

Its good development , a mutual currency OBOR countries would be even better.

 

[MultaniGuy]

Everything is made in China now and I assure you that you can have more choices than an apple with RMB.

Excellent point. This @Solomon2 guy thinks the world revolves around USA.

I would never buy an Apple product. lol. I always buy Microsoft products.

 

[Thetigerforces]

Excellent point. This @Solomon2 guy thinks the world revolves around USA.

I would never buy an Apple product. lol. I always buy Microsoft products.

Apple products are overpriced junk anyway.... Android and Microsoft beat them everytime

 

[武成王]

Media is the name of exaggeration. US dollar will be very important for a long time, however RMB will gradually be on par with it in the following decades, it's a unavoidable trend anyway. I only doubt the future of Euro. RMB can be a risk hedge to Pakistani asset portfolio.

 

[beijingwalker]

Apple products are overpriced junk anyway.... Android and Microsoft beat them everytime

Chinese products are overtaking Apple products fast.
https://www.cnbc.com/2017/10/16/hua...his-year-in-smartphones-top-analyst-says.html

 

[MultaniGuy]

Apple products are overpriced junk anyway.... Android and Microsoft beat them everytime

I rarely agree with Indians, but this is where you are right. Apple products are overpriced junk.

I never buy their phones, laptops, or computers.

Chinese products are overtaking Apple products fast.
https://www.cnbc.com/2017/10/16/hua...his-year-in-smartphones-top-analyst-says.html

Excellent news.

Perhaps I should get a Lenovo computer and a Huawei phone.

well i own a LG smartphone

 

[cloud4000]

Media is the name of exaggeration. US dollar will be very important for a long time, however RMB will gradually be on par with it in the following decades, it's a unavoidable trend anyway. I only doubt the future of Euro. RMB can be a risk hedge to Pakistani asset portfolio.

At least you have a realistic view of things. Some members here think the dollar is going away tomorrow. Of course, people have been saying that for decades, but it's still around and is currency of choice for most transactions.

If China and Pakistan want to trade in yuan, go ahead, but the dollar is not going any where.

 

[武成王]

At least you have a realistic view of things. Some members here think the dollar is going away tomorrow. Of course, people have been saying that for decades, but it's still around and is currency of choice for most transactions.

If China and Pakistan want to trade in yuan, go ahead, but the dollar is not going any where.

forum users fight a virtual war online, who take it serious anyway?

 

[Eight Pass Charlie]

Don't get me wrong I am all about dumping the dollar. But Pakistan has done a good job at staying out the US cross-hairs by accommodating them here and there but not too much.

Surely such a move will make Pakistan the next US target, Pakistan is currently in a state of political vulnerability.

Probably not the best time to invoke the worst from the US, they could take advantage of the situation.

Kinda makes me think that this may be intentional move by Sharifs to cause instability in an attempt to hold power. They are known for sacrificing decades worth of nation progress for money without any concern.

What do you think guys?