Could china buy wheat from india using US dollars? does this kind of thing happen a lot with commodities?
It's possible for China to make business transactions like buying wheat from India using US dollars. The U.S. dollar is widely accepted in other nations. Actually, China has its currency, the renminbi, still pegged to the dollar.
US currency are widely use in international commodities. Yes it can be done.
Apparently a lot of countries use the US dollar to do trades of commodities. It is also one of the most forged currencies.