|China Hosts Currency Summit with Russia|
|by Tom McGregor||Mon, May 19, 2014, 11:58 PM|
BEIJING: China and Russia are holding talks to discuss the devaluation of the US dollar and strengthening of the Russian rouble and Chinese RMB.
According to the Voice of Russia, "Putin also called for stepping up financial cooperation so as to "protect ourselves from fluctuations of rates of the world’s major currencies". "Therefore, ways of boosting mutual settlements in national currencies are being developed," the president said."
Putin is quoted as saying that, "We see a lot of promising areas for investment: various branches of engineering, the processing of farm produce, the mining of economic minerals, and the development of energy transportation infrastructure."
Russia and China are liekly to use their own currency when exchanging goods and services between the two nations.
To read the entire article from the Voice of Russia, link here:
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