Trump wants the US$ to remain the reserve currency by feigning ignorance that the USA is ripping others off realistically, so that the USA can continue with the charade to benefit from the blood and sweat of other countries just printing toilet papers in exchange. Nothing is easier than having a printer to print a piece of paper in exchange for real goods. Like Red Dot's COE system, LOL.
What BRICS had and is doing is real trade, exchanging finished goods or development aid for raw materials or energy, not ripping off each other. It is really a winning proposition for parties inside BRICS engaging in deals with each other. And the icing on the cake is that they can do trade using their own currencies, Yuan for Rubles for example, ditching the US$ completely.
In the case of Iran, China is actually doing barter trade, to go even further backwards so to say, exchanging energy from Iran with development aid from China. Nobody is ripping off the other, which is another way to free themselves from the sanctioning regime. Venezuela could be the next country to do that with its oil export to China in exchange for development aid. Maduro was in China joining in the Victory Day celebrations and I would not think that any meeting between him and Chinese leaders is just for exchanging T-shirts. So does Indonesia, for two-way trade which will all be done outside the US$. De-dollarization is now of duo benefit for those who adopt the system to bypass the US$, and able to do business outside the US$ in their own currencies and avoiding sanctions going through SWIFT.
Anonymous
What BRICS had and is doing is real trade, exchanging finished goods or development aid for raw materials or energy, not ripping off each other. It is really a winning proposition for parties inside BRICS engaging in deals with each other. And the icing on the cake is that they can do trade using their own currencies, Yuan for Rubles for example, ditching the US$ completely.
In the case of Iran, China is actually doing barter trade, to go even further backwards so to say, exchanging energy from Iran with development aid from China. Nobody is ripping off the other, which is another way to free themselves from the sanctioning regime. Venezuela could be the next country to do that with its oil export to China in exchange for development aid. Maduro was in China joining in the Victory Day celebrations and I would not think that any meeting between him and Chinese leaders is just for exchanging T-shirts. So does Indonesia, for two-way trade which will all be done outside the US$. De-dollarization is now of duo benefit for those who adopt the system to bypass the US$, and able to do business outside the US$ in their own currencies and avoiding sanctions going through SWIFT.
Anonymous
4 comments:
Trump could be right to think that some leaders are indeed stupider than him. Those leaders in the EU are perfect examples, sacrificing their own country for the USA. Not to say that the leaders of doggies like Japan, South Korea, India and Philippines are any better. Oh, I do not want to ruffle some feathers naming others. Perhaps they have yet to realize that giving the bully an inch and it wants a mile.
But there are many others that Trump has failed to 'stupidify' (not in the dictionary, but I use it to mean 'make them stupid'). Indonesia, Malaysia, Thailand and Vietnam are close neighborly examples, wise enough and already joining BRICS as partners.
What is more eye-opening is that the USA and its Anglo-Saxon clique tried to 'stupidify' Africans and met with wide rejections. That some African leaders can see through the insidious agenda of the USA and the West really puts to shame those in more developed areas in South Asia, South-East Asia and the Middle East.
Well said Anon 10.05
Let them push in half an inch and they shall go in full length twelve inches- ouch into your arse!
But many still loved them!
Trump cognitive decline is serious. On September 6, he said that he was unsure whether China and Russia will attend the G20 summit in Johannesburg, Africa, as 'Observer' status. Did Trump just unilaterally throw China and Russia out of the G20, designating them as just 'observers' if they were to attend the G20 summit in Johannesburg? Most people are stunned and scratching their heads.
Trump will take center stage if Xi and Putin are absent from the meeting. I do think it is about time that China and Russia take this opportunity to ditch the useless G20 meeting, a bloc set up by the West. After all, SCO and BRICS are good enough economic blocs for de-dollarization purposes.
At the G20 summit in Jakarta in 2022, Joe Biden was totally eclipsed by Xi's presence, with Putin not even around. In a snub against India, Xi was also absent at the 2023 G20 summit held in New Dheli, India. Xi attended the 2024 summit held in Brazil, highlighting the close relations between the two BRICS country.
I came across a Channel News America interview with the headline asking whether China can outlast the USA in the tariff war. Well, that answer must be taken in relation to the other question of who is more desperate to meet who to resolve the crisis. China is not too anxious obviously, with Xi not eager to meet Trump, while Trump is very desperate to meet Xi, hoping he would be at the G20 in Johannesburg.
I leave that to the readers to judge.
Trump will host the 2026 G20 summit in USA, saying China and Russia will be there as observer status, which means China and Russia are no longer members of the G20. Trump lost his mind like Joe Biden.
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