Brazil's President Luiz Inácio Lula da Silva made an impassioned call to his BRICS counterparts Russia, India, China and South Africa to replace the US dollar with their own currencies for trading among the countries. Lula's comments come amid efforts by India, China and Russia to set up streams for trade in their own currencies and expanding calls amongst BRICS nations to launch a potential common currency mechanism for trade.
Brazilian President Luiz Inácio Lula da Silva was in the Chinese financial hub of Shanghai on Thursday as he looks to boost ties with the South American giant's biggest trade partner and win political support for attempts to mediate the conflict in Ukraine.
Brazilian President Lula da Silva is sticking to Brazil's favored policy of diplomatic non-alignment while visiting China, hoping to win his country all the business and export deals he can sign.