May
8, 2023
On
March 20, Chinese President Xi Jinping met with Russian President Vladimir
Putin in Moscow. In his article in the Russian media preceding the meeting, XI
enthused that "China-Russia trade exceeded 190 billion U.S. dollars last
year, up by 116 percent from ten years ago." Though it has reached 190
billion US dollars, it is no longer all being traded in US dollars. In his
article in the Chinese media, Putin said that "the share of settlements in
national currencies" of all that trade "is growing." 65% of that
massive China-Russia trade is now being conducting in their Russian and Chinese
currencies.
