China, Russia, and India have all been doing business with each other and other countries all without the use of the U.S. dollar. Yes it’s possible. Difficult most certainly. But not impossible. It’s quite clear that most of the global trade is done with the reserve currency of the world, the U.S. dollar. However, particularly following the global financial crisis, many countries have expressed their desire to use an alternate currency to do trade in. Just like the Pound Sterling, no currency can remain king forever.
Dollars declined: India to pay for Russian air defense system in rubles — RT Business News
https://www.rt.com/business/442716-india-s-400-ruble-settlement/
Russia looks to eliminate US dollar from trade with African countries – official — RT Business News
https://www.rt.com/business/442513-russia-africa-dollar-away/
China and Japan sign US$29 billion currency swap to forge closer ties | South China Morning Post
https://www.scmp.com/economy/china-economy/article/2170426/china-and-japan-sign-us29-billion-currency-swap-forge-closer
India Japan agreement: India, Japan sign $75 billion currency swap agreement
https://economictimes.indiatimes.com/markets/forex/india-japan-sign-75-billion-currency-swap-agreement/articleshow/66415790.cms
Argentina nears new currency swap deal with China: central bank | Reuters
https://www.reuters.com/article/us-argentina-economy-currency/argentina-nears-new-currency-swap-deal-with-china-central-bank-idUSKCN1MA0RY
Nigeria, China Sign $2.4 Billion Currency-Swap to Lift Trade - Bloomberg
https://www.bloomberg.com/news/articles/2018-05-03/nigeria-china-sign-2-4-billion-currency-swap-to-boost-trade
Renewal of Bilateral Currency Swap Arrangement Agreement between Bank Negara Malaysia and the People's Bank of China | Bank Negara Malaysia | Central Bank of Malaysia
http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=2483&lang=en
Interactive: The Spread of Central Bank Currency Swaps Since the Financial Crisis
https://www.cfr.org/interactives/central-bank-currency-swaps-since-financial-crisis?cid=otr-marketing_use-currency_swaps#!/central-bank-currency-swaps-since-financial-crisis?cid=otr-marketing_use-currency_swaps
