June 4, 2023

Lula says North Americans want to end the dollar

The president denied that he wanted to sever ties with the U.S. by strengthening trade with China

President Luis Inacio Lula da Silva (PT) on Friday (14.Apr.2023) denied wanting to end the dollar as the reference currency for foreign trade. During his visit to China, the chief executive advocated trading in BRICS countries’ currencies, which would undercut the US dollar in transactions between members of the economic bloc.

Our American friends are always concerned about anything new based on banking or currency, because they think it should eliminate the dollar as the reference currency for foreign trade. That’s how Europe hurt the US when the Euro was created”, said Lula

The CEO spoke about this in an interview to The hidden (China Central Television, in English) recorded after a meeting with Chinese President Xi Jinping. Part aired “Band Journal”from tv band, On the 6th.

Lula said the countries together represent half of the world’s population, while defending the use of local currencies by members of the group. He added Bangladesh and the United Arab Emirates to the account, which will begin serving Banco dos Brics in 2021.

A country the size of China and Brazil does not need to trade based on the dollar. You can create a currency that can be arranged by the central bank of 2 countries. And we do our transactions in our currencies”, he said.

A joint statement with China released by Brazil’s foreign ministry on Friday (April 14) established cooperation to strengthen trade in the two countries’ local currencies as one of the main agreed points. Currently, China is Brazil’s largest trading partner.

According to Lula, rapprochement with China does not mean severing ties with the United States. When I say ‘strengthen the relationship with China’, I don’t mean to break the relationship with the US. I also want to strengthen our relationship with the US.”he said.

Lula also announced this in an interview with Chinese television “That One Thing” What it wants is to create a new form of world governance.

“I don’t want to be the leader of anything, I don’t want to dominate anyone. All I want is the following: A new form of world governance must be created. China plays a very important role in the world today. Brazil must be taken into account. A country like Nigeria, Egypt and Mexico should be taken into account.he said.

After his visit to China, Lula left for the United Arab Emirates. Leaving his hotel in Beijing, the president spoke to reporters and reaffirmed his stance on closing the Brazil deal.All countries“Regardless of political and ideological issues.

We don’t need to break up or fight with anyone in order to move forward. Brazil must seek its interests. Brazil should follow suit. Brazil should make possible agreements with all countries. We have no political elections, no ideological elections. We have exams in national interest”, he declared.

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