Brazil’s president is calling for a new currency to replace the U.S. dollar in global trade. He talked about this last week during his visit to China.
Luiz Inácio Lula da Silva is calling for a new currency for the BRICS countries, which includes Brazil, Russia, India, China, and South Africa.
China is trying to increase the use of its currency in global trade. The country has already struck a deal with Brazil to trade in their own currencies and ditch the dollar.
NTD’s Tiffany Meier talked with David Goldman about whether this new BRICS currency has any potential to upset the U.S. dollar’s dominance. Goldman is the deputy editor of the Asia Times and president of Macro Strategy.