China and Russia are sidestepping the U.S. Dollar. There is plenty of room to grow, since Russia is the world's largest energy exporting nation, and China a consumer as the world's second-largest economy, after the United States. But when a Oil supplies cross the border into China, the transaction is done in dollars.
On Wednesday, a Moscow securities exchange is scheduled to open direct trading between the Chinese currency, the renminbi, and the Russian ruble. If the market develops, it could eventually cut the dollar out of a portion of Russian and Chinese trade.
New York Times) Andrew E. Kramer
The new currency exchange is meant to side step the US dollar. The trading will allow China to diminish demand for the dollar. China will be able to export to Russia or other countries and instead be able to buy local currency directly, without the need of the dollar, without the need for dollars as a common currency to conduct their buisness.