Ditching the dollar
Last week, China and Brazil ditched the dollar in trade deals choosing to trade in their own currencies - reais for Brazil, the land of the middleman, exchanging directly to Chinese yuan, cutting out the traditional trade deal middleman – the US dollar. In a series of such deals recently, between Tanzania and India, Kenya in their deals with Saudi Arabia’s Aramco and the UAE’s ADNOC, the US dollar has been bypassed altogether.


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