Ходжа Н. (hojja_nusreddin) wrote,
Ходжа Н.

China and Brazil: Dump the Dollar

It is just the latest sign that China and other developing nations are increasingly ready to challenge the currency status quo. Just before beginning his three-day visit to China, Brazilian president Luiz Inacio Lula da Silva raised waves when he said he planned to continue discussions with Chinese leaders about the possibility of dumping the dollar in trade between the two countries.
Instead, the Chinese Yuan and Brazilian Real would be used for transactions, significantly lowering costs for the two nations, he said. His call was echoed by a Brazilian central bank official Tuesday, who said the two countries bank governors were likely to meet soon to push forward the proposal.
Tags: деньги, экономика
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