Don't think the Fed is going to like this one. Losing control???
"Asked if the Chinese currency could be allowed for use in Pakistan, the minister said the Pakistani currency would be used within the country but China desired that bilateral trade should take place in yuan instead of dollars, in yet another push to de-dollarize what China considers its sphere of influence.
"We are examining the use of yuan instead of the US dollar for trade between the two countries," Iqbal said, adding that the use of yuan was not against the interest of Pakistan. Rather, it would "benefit" Pakistan.
It would also show that world that when it comes to Asia, the "superpower" of significance is no longer the US. And so, as China's influence grows, the long-term plan highlighted key cooperation areas between the neighboring states including road and rail connections, information network infrastructure, energy, trade and industrial parks, agriculture, poverty alleviation and tourism.
The CPEC plan marks the first time the two countries have said how long they plan to work together on the project, taking the economic partnership to at least 2030. China has already committed to investing $57 billion in Pakistan to finance CPEC as part of Beijing’s “Belt and Road” initiative to build a new Silk Road of land and maritime trade routes across more than 60 countries in Asia, Europe and Africa.
Addressing the launching ceremony Chinese Ambassdor to Pakistan Yao Jing said the long term plan would expand the scope of cooperation in various new areas, including cooperation in social sectors along with economic fields. “CPEC was a national plan approved by the both the Chinese and Pakistan government.” It will effectively match relevant national plans of China as well as Pakistan Vision 2025."
For more from the article click below
http://www.zerohedge.com/news/2017-12-21/pakistan-plans-replacing-dollar-yuan-trade-china