Deutsche Bank gives us this accurate status on the trade wars. In my view, this will increase the speed of the progress of de-dollarization and more countries will start trading in their respective currencies.
A small update a few hours later – the news is out.
“Ankara has given a green light to Moscow’s proposal to switch to ruble-lira trade between the countries. Turkey also has similar plans for trade with China and other countries.
“We are discussing the transition to national currencies not only with Russia and China, but also with other countries. It is not just Turkey’s request. In other countries, there has been reaction to US attacks,” said Turkish presidential spokesman Ibrahim Kalin.”
My expectation is that de-dollarization is now well on its way.