New Zealand, China in Talks on Convertibility of Currencies

The world is leaving the US Dollar, one country at a time, and America is too busy following the Kardashians to notice.

WELLINGTON, New Zealand—Seeking to help its exporters, New Zealand is negotiating with China to make their currencies directly convertible, a spokeswoman for Prime Minister John Key said.

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Talks are in the “very early stages” and “progressing,” the spokeswoman said, adding that the issue had been brought up during Mr. Key’s visit to China last month.

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Direct convertibility between the Chinese yuan and New Zealand dollar would end the need for New Zealand’s companies and currency traders to convert New Zealand dollars or yuan into U.S. dollars when making or receiving payments.