The trade sanctions on Russia have forced it to ponder using another currency in international trade. Talks with China have Russia planning to use the yuan, but these talks haven’t yet translated into widespread use. The yuan’s adoption has been slow; in 2013, it accounted for 1% of Russian-Chinese trade, and by 2020, it had only increased to 6.3 percent. Russian and Chinese companies are still free to choose a different currency in business and seem more likely to deal in euros than in yuan. Read full article here
History
Remembering When America Banned Sliced Bread
Rationing was not new to the world when the US decided to ban sliced bread during WW2, but it caused an uproar. Already burdened by previous sugar, butter, and nylon rationing, American households made their anger known. Sliced bread was considered something of a household staple; their breakfast and lunch featured sliced bread, and it was too time-consuming to slice bread in the morning. The ban ended two months later, when officials finally claimed there was enough wax paper—used to keep sliced bread fresh—to go around. Read full article here
Merv
November 23, 2022
