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BRICS blockade: China and Brazil shock the dollar!
China and Brazil trade in local currencies to reduce US dollar dependence. Discover the impact.
BRICS blockade: China and Brazil shock the dollar!
BAM! China and Brazil are getting serious: The BRICS bomb has exploded! Both countries announced that they would trade in their local currencies in the future and thus get rid of the shackles of the US dollar. Why all this? China is fed up with Trump's tariff policy and is responding with a hefty 34% special levy on American goods. But that's not all: Chinese companies should no longer invest money in the USA! What happens to the money flow? The American market is threatened by the lack of billions in inflows from China.
BRICS member Brazil is also jumping on the bandwagon and confirming that trade with China in local currencies is flourishing, according to the Finance Ministry. How reported by watcher.guru, it says: “We would rather pay in reals than in dollars!” No obstacles in the way, just paths to more free trade. And the best part? The New Development Bank is ready to help BRICS juggle money. The knees in Washington are shaking!
Tatiana Rosito from the Ministry of Finance speaks clearly: “Costs down, economy up!” The US dollar? Soon it will just be old hat. “BRICS is poised to shake up the global economy,” Rosito continued. Recent developments, as watcher.guru explains in a recent article, promise an exciting future on the global financial stage!