China And Japan Currency Swap: Nail In US Dollar's Coffin

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China and Japan unveiled plans to promote direct exchange of their currencies. This agreement will allow firms to convert the Chinese and Japanese currencies directly into each other, thus negating the need to buy dollars. This is one more nail in the coffin of the dollar as the international reserve currency.

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

Related Topic(s): China Politics; Dollar; Dollar Crisis; International; Japan, Add Tags

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