Pakistan ditches dollar for trade with China hours after Trump's denunciation

Section:

By Nyshka Chandran
CNBC, New York
Thursday, January 4, 2018

Just 24 hours after President Donald Trump took aim at Pakistan on Twitter, the South Asian nation already appears to be cozying up to the world's second-largest economy.

A day after the U.S. leader slammed Islamabad for harboring terrorists in a New Year's Day tweet, Pakistan's central bank announced that it will be replacing the dollar with the yuan for bilateral trade and investment with Beijing.

The same day, Chinese Foreign Ministry spokesman Geng Shuang defended Islamabad's counter-terrorism track record, saying the country "made great efforts and sacrifices for combating terrorism" and urged the international community to "fully recognize this." ...

... For the remainder of the report:

https://www.cnbc.com/2018/01/03/pakistan-china-ties-strengthen-after-pre...



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