Right now, we’re seeing a shift in the global trading system to move away from the US-dollar dominance in financial transactions. The latest development occurred between China and Brazil.
While visiting China this week, Brazilian President Luiz Inácio Lula da Silva prioritized trade talks, accompanied by over 200 business leaders and other governmental officials. The two countries have also agreed to trade directly in their own currencies. It’s just one case of a significant departure from decades of using the dollar as the primary currency for global trade.
What is driving this shift away from the dollar, and what are the implications for the global trading system?
To find out, we spoke with Caren Moy, a journalist based in Rio de Janeiro, Brazil. Join us as we delve into this fascinating topic and explore the potential long-term impacts of this shift.
