BREAKING Brazil calls for 'move away' from dollar President Lula da Silva has kicked off his first state visit to China with a BRICS bank ev

Brazil calls for 'move away' from dollar
President Lula da Silva has kicked off his first state visit to China with a BRICS bank event

Brazilian President Luiz Inacio Lula da Silva has stated that developing nations should move away from the US dollar in favor of their own currencies in order to push back against American dominance over the global financial system.

Speaking in Shanghai on Thursday during an official visit to China, Lula said the BRICS group – comprising Brazil, Russia, India, China and South Africa – should look for an alternative currency to the dollar for trade.

“Every night I ask myself why all countries have to base their trade on the dollar. Why can’t we do trade based on our own currencies?” he said. “Who was it that decided that the dollar was the currency after the disappearance of the gold standard?”

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