The United States, which still thinks it is all-powerful, must watch Brazil, the largest Latin American economy, break free of its shackles and bypass the dollar wherever possible.
China authorized the Brazilian subsidiary of the ICBC (Industrial and Commercial Bank of China) to clear the yuan into real directly.
Establishing an intermediary bank, a "cleaning house, " is necessary to carry out trade and financial operations directly between two currencies.
This way, the US dollar in the transactions will not be required.
The central banks of the two countries had established, on January 31st, a memorandum to make the conversion . . .
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