Brazil Joins The Resistance Against The Dollar Besides Russia And China
Xi Jinping and Vladimir Putin have instigated a global anti-dollar movement. Brazil and ASEAN, in turn, join the anti-imperial currency uprising. Brazilians and Chinese no longer need to use the dollar to conduct business. On Wednesday, the two central banks inked an agreement in Beijing.
It will enable China and Brazil to do commerce without the use of middlemen. The two countries will be allowed to pay for imports in their own currencies, the yuan and the real. It will no longer be required to first convert them into US dollars. Also, instead of the SWIFT network, Brazilian banks will utilize the Chinese payment system CIPS.
It will enable China and Brazil to do commerce without the use of middlemen. The two countries will be allowed to pay for imports in their own currencies, the yuan and the real. It will no longer be required to first convert them into US dollars. Also, instead of the SWIFT network, Brazilian banks will utilize the Chinese payment system CIPS.
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