Myanmar urges currency replacement in global trade saving small nations
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Tun MT (NP News) - Sep 7
Currency replacement in global trade in place of US dollar domination; where using rubles, yuans or rupees will be alternative, Chairman of the State Administration Council and the Commander-in-Chief of Defense Services of Myanmar Senior General Min Aung Hlaing addressed at the 7th Eastern Economic Forum.
Lately, developed nations bully the small countries (referring especially third world countries) by use of dollar domination, particularly in the trades, the Army Chief said.
“Countries purchase food products from foreign countries when they couldn’t produce them by their own to make sure enough food supply in the domestic; which in turns, become a threat on financial security of the relevant State,” he said.
“The Dollar becomes a manipulation tool when small nations have concern the financial security. Then, the small nations are subjected to be bullied in aspect of dollar usage by the strong ones. It makes them couldn’t go against what commanded by the greater in politics, social and economic issues,” Senior General Min Aung Hlaing said at the EEF.
“If we replace rubles, yuans or rupees in dollar, small nations like us will be able to overcome from being bullying by the greater nations. I hereby request to my dear friends of great nations helping this,” he continued.
The 7th Eastern Economic Forum is held in Vladivostok, Russia from September 5 to 8.