China has proposed a free-trade bloc among the five BRICS countries in a bid to enhance economic ties within the decade-old grouping, as its geopolitical rivalry heats up with the United States. Trade between Brazil, Russia, China, India and South Africa has huge potential to expand, as it accounts for only 6 per cent of the countries' combined trade today, despite major emerging economies contributing to about one-fifth of global trade, said vice-commerce minister Wang Shouwen. "To build a free
  • Fenix@lemmygrad.ml
    14·
    2 years ago

    An alternative to the US dollar would be amazing, each day that passes we see more and more cooperation against imperialism. Hope my country, Brazil, endorses that (it would never happen under Bolsonaro, but under Lula it’s possible.)

    This is great news.

    • redshiftedbrazilian@lemmygrad.ml
      9·
      2 years ago

      I believe Lula would join it. His internal policies may be liberal policies overall but when it comes to external politics he has always been based. Not to mention that he has been criticising the US bc of the whole spying/lava jato operation they supported.

      He aint a removed like Bolsonaro.

  • crossy_grynch@lemmygrad.ml
    12·
    2 years ago

    Alternative to US dollar, oh, I hear of it for how many years now? US installed itself as dominant by making USD a world currency, they effectively plundered everyone by printing more of it, however the downside of it is that if USD will stop being world currency, this is the end of USD, and I have no idea what are they going to do after. It’s cold war part 2, maybe even world war part 3. The worst thing for them is unlike EU and USA (shall I just call them NATO?), BRICS economy is real, and NATO caught themselves in bubbleconomy, most of it being nothing but a “financial” and “service” foam.