“Pakistan China Friendship” taking step forward, decided to conduct bilateral trade in Yuan currency to bring down dollars’ value, Bad News for Trump!
China will now carry out bilateral trade with Pakistan in the Chinese Yuan instead of the U.S. dollar to bring change in financial and economic woes.
Historical deal ever! Though Pakistan’s Media does not talk openly about this massive achievement, Pakistan is the first country to take this revolutionary step towards good change. The Central State Bank of Pakistan has already declared Yuan as an approved foreign exchange for all purposes in the country. Pakistan’s import from China is 98%.
Pakistan’s foreign exchange reserves have dwindled to less than $8 billion and the country instantaneously needs about $12 billion for foreign debts and pay for imports.
The package offered by China contains $3 billion in Chinese grants and loans, while another $3 billion will be given for investment under the China-Pakistan Economic Corridor (CPEC) infrastructure building project, a centerpiece of Beijing’s global Belt and Road Initiative (BRI).
Prime Minister Khan has said that the funds being secured from the three friendly countries will enable Pakistan not to seek a major bailout package from the International Monetary Fund (IMF) to meet the country’s immediate liabilities.
China has planned to continue the same with other countries which consequently will lead considerable reduction in dollar purchase.
Imran Khan’s this step will decrease the demand of dollars as Roos has also considered this alteration and will trade in gold or other currency. America has threatened European companies to trade with Iran in dollars and EU threatened back to stop using dollars. Currency war has started. All the countries will come together against America to bring Super power to zero power, they all will equally deny the trade in dollars.
“Imran Khan is Emerging as Leader Worldwide”
Congratulations everyone! Pakistan just IMPROVED 11 points in the #WorldBank ‘Ease of Doing Business’ Ranking – climbing from 147 to 136 out of 190 countries in THREE MONTHS after 9 YEARS of consistent decline. It’s one of the BIGGEST achievements in the first 100 Days so far..👏 pic.twitter.com/vcLSFpi3Tj
— Maleeha Hashmey (@MaleehaHashmey) November 5, 2018
Buck up! For Pak China Friendship that has eventually tied up as vigorous allies to improve their economic collaboration. Information Minister Fawad Chaudhry said, “China has stood by us at all times,” “We built a corridor together, and now we are opening its doors for agriculture and new industrial zones.”
“The agreement is part of practical steps being taken [by China] to support our [foreign] currency [reserves],”.
Chinese government separately has also offered an economic package to Pakistan, will be revealed soon.
He further goes that a “historic” deal was clinched during Prime Minister Imran Khan’s four-day official visit to Beijing.
According to officials and economists from China, both the countries will have long way journey addressing Islamabad’s enormous 87-percent trade deficit with Beijing and reducing pressure on Pakistan’s depleting foreign currency reserves.
Several more issues of economic cooperation and bilateral between the two countries were deliberated.
The statistical trade between the two countries is about $15 billion, of which Chinese exports to Pakistan are estimated at around $13 billion.
China is considering announcing one-sided trade concessions to Pakistan which will increase its exports to Beijing and hence decrease trade deficit on which The Information Minister said that the PTI government has improved Pakistan’s international ties.
It is also suspected that PM is trying to build a triangle with China and Saudi Arabia as Officials say the United Arab Emirates is also considering economic relief to Pakistan similar to what Saudi Arabia has pledged.