{"id":19929,"date":"2023-04-17T02:47:06","date_gmt":"2023-04-17T02:47:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/china-brazil-can-be-instrumental-in-building-less-centralized-world-with-no-hegemony-says-lulas-adviser-economics-bitcoin-news\/"},"modified":"2023-04-17T02:47:06","modified_gmt":"2023-04-17T02:47:06","slug":"china-brazil-can-be-instrumental-in-building-less-centralized-world-with-no-hegemony-says-lulas-adviser-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/china-brazil-can-be-instrumental-in-building-less-centralized-world-with-no-hegemony-says-lulas-adviser-economics-bitcoin-news\/","title":{"rendered":"China, Brazil Can Be Instrumental in Building Less Centralized World With No Hegemony, Says Lula’s Adviser \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Brazil\u2019s President Luiz Inacio Lula da Silva\u2019s chief adviser on foreign policy, Celso Amorim, says China and Brazil \u201care coming closer together\u201d and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed: \u201cI think it\u2019s very important that we are free from the dominance of one single currency because sometimes it is used politically.\u201d<\/strong><\/p>\n

Brazil, China \u2018Coming Closer Together\u2019<\/h2>\n

Brazilian President Luiz Inacio Lula da Silva\u2019s senior foreign policy adviser, Celso Amorim, discussed de-dollarization on Friday in an interview with the Chinese government-owned Global Times. Amorim previously served as Brazil\u2019s Minister of Foreign Affairs, Minister of Defence, and ambassador to the United Kingdom. He was appointed as Chief Advisor to the president of Brazil by Lula in January.<\/p>\n

Amorim explained the importance of Lula\u2019s visit to China where the Brazilian president met with Chinese President Xi Jinping. It was the first visit Lula made outside the American continent after assuming office on Jan. 1. The former Minister of Foreign Affairs said:<\/p>\n

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Brazil and China are coming closer together.<\/p>\n<\/blockquote>\n

China and Brazil have agreed<\/a> to conduct trade in their respective currencies, rather than using the U.S. dollar. Additionally, both countries are part of the BRICS group that is reportedly working to create<\/a> a new form of currency that will further shift them away from USD reliance. The BRICS countries consist of Brazil, Russia, India, China, and South Africa.<\/p>\n

De-Dollarization<\/h2>\n

Regarding de-dollarization, Amorim opined: \u201cI think it\u2019s natural that we can do our own trade in our own currencies \u2026 It\u2019s only natural because the dollar has become dominant after WWII; before it was the English pound \u2026 So now, if we can work with a basket of currencies and use our own currencies to a large extent, that\u2019s the best thing.\u201d<\/p>\n

While admitting that it is \u201cnot yet totally clear\u201d whether the BRICS nations will adopt a common currency or maintain their respective national currencies, the Brazilian president\u2019s adviser stressed:<\/p>\n

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But I think it\u2019s very important that we are free from the dominance of one single currency, because sometimes it is used politically.<\/p>\n<\/blockquote>\n

A number of people have warned that the U.S. dollar may lose its status as the world\u2019s reserve currency due to the government weaponizing it. Economist Jim Rickards, for example, said the Treasury Department is the USD\u2019s biggest threat because it has \u201cweaponized the dollar<\/a>\u201d and \u201cfrozen the reserves of the Central Bank of Russia.\u201d Investment manager Larry Lepard predicted that the USD could lose most of its value<\/a> in five years. Economist Nouriel Roubini said the global reserve currency system is shifting from unipolar to bipolar with the Chinese yuan<\/a> as an alternative to the U.S. dollar.<\/p>\n

Creating Multipolar World With Less Centralized Power, No Hegemony<\/h2>\n

The foreign policy adviser to Lula also told the Chinese news outlet that the Brazilian president\u2019s visit to China is an expansion of an already existing strategic partnership between the two countries. \u201cChina is our most important trading partner by far. Brazil is becoming one of the places in which China invests more,\u201d he said, emphasizing:<\/p>\n

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But not only that, I think the two countries can also have an important role in building a more multipolar world, in which power is less centralized and there is no hegemony. I think this is a very important aspect in which China and Brazil can play important roles.<\/p>\n<\/blockquote>\n

Amorim further stressed that Brazil is eager to enhance its strategic cooperation with China, noting that he believes Lula\u2019s visit will elevate the relations between Brazil and China to a new level. The Brazilian president\u2019s adviser also urged developing countries to cooperate more closely. President Lula recently called on developing nations to dump the U.S. dollar<\/a> as the world\u2019s reserve currency.<\/p>\n

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Celso Amorim<\/a>, Celso Amorim China<\/a>, Celso Amorim de-dollarization<\/a>, de-dollarization<\/a>, de-dollarization Brazil<\/a>, de-dollarization China<\/a>, de-dollarization Russia<\/a>, dedollarization<\/a>, Dollar<\/a>, Luiz Inacio Lula da Silva<\/a>, Luiz Inacio Lula da Silva China<\/a>, Luiz Inacio Lula da Silva de-dollarization<\/a><\/div>\n<\/div>\n

Do you think the U.S. dollar is at risk of losing its status as the world\u2019s reserve currency? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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