India and Japan signed a US$75 billion bilateral currency swap agreement on Monday, India said, adding the measure was aimed at improving confidence in the foreign exchange and capital markets.
China and Japan on Friday signed a broad range of agreements including a US$30 billion currency swap pact, amid rising trade tensions with Washington.
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Very interesting.
Japan do a currency swap between Japan and India.
Japan also do a currency swap between Japan and China.
Many Countries also do currency swap.
All these arrangement will effectively reduce the significance of using US$ as currency of exchange in the Global Trade.
In effect, the World has slowly form a "Trade Firewall" against Trump-led US.
Trump indeed has successfully and slowly isolate US from the rest of the World in trade, business and investment.
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