Earlier this month, Brazil’s Luiz Inacio Lula da Silva called on BRICS nations to come up with an alternative to replace the dollar in foreign trade, supporting China’s crusade against US global dominance just as he prepares to meet with President Xi Jinping in Beijing.
Brazilian President Lula lend his voice to China s efforts to shed the dollar s dominance and promote the use of the renminbi (RMB)/ yuan in overseas trade settlement
Brazilian President Luiz Inacio Lula da Silva criticised the outsize role of the US dollar in the world economy and lashed out at the IMF on Thursday during an official visit to China. Lula, whose government recently announced a deal with Beijing to trade in their own currencies ditching the dollar as an intermediary is in China to boost ties with his country's top trading partner and spread his message that "Brazil is back" as a key player on the global stage.
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