World News

2310 readers

139 users here now

founded 4 years ago

MODERATORS

muad_dibber@lemmygrad.ml

sovietsnake@lemmygrad.ml

ksynwa@lemmygrad.ml

BRICS Settle 65% Trade in Local Currencies & Not the US Dollar (watcher.guru)

submitted 1 month ago by yogthos@lemmygrad.ml to c/worldnews@lemmygrad.ml

2 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] darkernations@lemmygrad.ml 8 points 1 month ago* (last edited 1 month ago) (1 children)

I have read that China is not getting rid of their reserve dollars overall suggesting that countries that want to trade in dollars with China can still do but it can now be done without US oversight or control? If that is the case the "de-dollarisation" effect would be much higher than the trade in the above local currencies would imply?

/edits: clarification

[–] yogthos@lemmygrad.ml 9 points 1 month ago

That makes sense yeah, China's reserve of dollars can be used to facilitate dollar trade in cases where other currency settlements aren't possible.