China, Brazil strike deal to ditch dollar for trade

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

https://insiderpaper.com/china-brazil-strike-deal-to-ditch-dollar-for-trade/

1 Corinthians 15:1-4

Now I make known to you, brethren, the gospel which I preached to you, which also you received, in which also you stand, by which also you are saved, if you hold fast the word which I preached to you, unless you believed in vain.

For I delivered to you as of first importance what I also received, that Christ died for our sins according to the Scriptures, and that He was buried, and that He was raised on the third day according to the Scriptures,

Ephesians 2:8-9

For by grace you have been saved through faith; and that not of yourselves, it is the gift of God; not as a result of works, so that no one may boast.

Author: Fire Lily

God has given me grace upon grace. All I want to do is serve the One who loves me so much.

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