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

[SBFNews]

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 dollar.

“The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment,” the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said in a statement.

China is Brazil’s biggest trading partner, with a record US$150.5 billion (S$200 billion) in bilateral trade last year.

The deal, which follows a preliminary agreement in January, was announced after a high-level China-Brazil business forum in Beijing.

 

[mahjongking]

in this world where everyone can destroy everyone with nuclear weapons why the fuck you still need the USD?
its been over printed beyond reason, but no central bank is innocent for that matter. all govt screw its own people by printing irresponsibly

 

[Rogue Trader]

完了完了完了barbeque 了

France also ditching the USD to settle LNG in ¥uan

China completes first yuan-settled LNG trade​

TUE, MAR 28, 2023 - 07:52 PM

UPDATED THU, MAR 30, 2023 - 1:16 PM

China has placed an emphasis on settling oil and gas trades in yuan in recent years in a bid to establish its currency internationally and to weaken the US dollar’s grip on world trade.

PHOTO: REUTERS
CHINESE national oil company CNOOC and France’s TotalEnergies have completed China’s first yuan-settled liquefied natural gas (LNG) trade through the Shanghai Petroleum and Natural Gas Exchange, the exchange said on Tuesday (Mar 28).

Approximately 65,000 tonnes of LNG imported from the UAE changed hands in the trade, it said in a statement.

TotalEnergies confirmed to Reuters that the transaction involved LNG imported from the UAE but did not comment further.

 

[syed putra]

Geylang accept yuan too?

 

[Loofydralb]

Damn. Collapse is imminent!

People. Take action now!

 

[searcher1]

The ball have started rolling ....

 

[Rogue Trader]

Geylang accept yuan too?

They take dongs

 

[blackmondy]

Will our dishonorable son dare use RMB to deal with Winnie Xi?

 

[eatshitndie]

ccp currency is chicken, cunts, and prostitutes.

 

[syed putra]

ccp currency is chicken, cunts, and prostitutes.

Buyer Calls the shots.
US at one time was a huge buyer of middle east oil, hence oetro dollars.today, US is a huge exporter of oil and gas, not buying from middle east as much. China is biggest buyer so they they dictate terms of payment

 

[blackmondy]