AmandaHP Posted March 30, 2023 Posted March 30, 2023 Quote China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said Wednesday, Beijing's latest salvo against the almighty greenback. The deal will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to conduct their massive trade and financial transactions directly, exchanging yuan for reais and vice versa instead of going through the dollar. https://www.barrons.com/news/china-brazil-strike-deal-to-ditch-dollar-for-trade-8ed4e799
Helios Posted March 30, 2023 Posted March 30, 2023 When it all falls apart Brazil will come crawling back to the dollar.
byzantium Posted March 30, 2023 Posted March 30, 2023 This makes sense why they would do this. Brazil is pretty reliant on China’s purchasing of raw materials from Brazil. It doesn’t make it a strong economic decision, just a political one.
byzantium Posted March 30, 2023 Posted March 30, 2023 1 minute ago, Venice B said: Don't know what that means but work Most countries need to use an intermediary currency when conducting trade because there is not enough trade between their currencies to establish a strong exchange rate. The US dollar is by far the most common currency for this with something like 80% of exchanges involving the dollar. The Euro is second with about 35% I think.
AMIT Posted March 30, 2023 Posted March 30, 2023 we love to see the US' reign of terror crumbling day after day
Almighty Gaga Posted March 30, 2023 Posted March 30, 2023 Russia, India, and Middle Eastern countries are starting to do that as well. We love to see it.
BrokenMachine Posted March 30, 2023 Posted March 30, 2023 47 minutes ago, Communion said: Not Dollar starting to freefall on the charts
Johnny Cash Posted March 30, 2023 Posted March 30, 2023 6 minutes ago, BrokenMachine said: Not Dollar starting to freefall on the charts Her Bionic era is here
Mean Trees Posted March 30, 2023 Posted March 30, 2023 (edited) Mao Zedong soon to be in most of the world's pockets Edited March 30, 2023 by Mean Trees
Attitude Posted March 30, 2023 Posted March 30, 2023 So when are we eating the rich? This is all their fault.
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