China and Brazil have reached a deal to trade in their own currencies, ditching the U

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China and Brazil have reached a deal to trade in their own currencies, ditching the U

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30-03-2023, 12:00 PM

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China and Brazil have reached a deal to trade in their own currencies, ditching the U

An honorable member of the Coffee Shop Has Just Posted the Following:

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, the Brazilian government said on 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...

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