💸 Brazil and China have recently struck a multi-billion-dollar currency swap agreement which is expected to fuel de-dollarization in the United States’ near abroad, Latin America.
It is just one major piece of evidence of the ever-growing geopolitical and geo-economic importance played by the Western Hemisphere in the context of great power competition.
However, it is essential to calm enthusiasm and maintain objectivity. The US dollar might look like the walking dead, but it is still walking and will walk for a long time.
In a growingly multipolar world, where the United States is slowly ceasing to be the primary pole of power, it is not strange, but absolutely normal and physiological, to witness a worldwide process of reserve currency diversification, writes Valdai Club expert Emanuel Pietrobon.
https://valdaiclub.com/a/highlights/the-day-after-the-dollar/
#ModernDiplomacy #dollar #currency #Brazil #China #yuan
@valdai_club
It is just one major piece of evidence of the ever-growing geopolitical and geo-economic importance played by the Western Hemisphere in the context of great power competition.
However, it is essential to calm enthusiasm and maintain objectivity. The US dollar might look like the walking dead, but it is still walking and will walk for a long time.
In a growingly multipolar world, where the United States is slowly ceasing to be the primary pole of power, it is not strange, but absolutely normal and physiological, to witness a worldwide process of reserve currency diversification, writes Valdai Club expert Emanuel Pietrobon.
https://valdaiclub.com/a/highlights/the-day-after-the-dollar/
#ModernDiplomacy #dollar #currency #Brazil #China #yuan
@valdai_club