In China, Brazil’s President Lula says he is “against” the dollar

On a trip to China, Brazilian President Lula criticized the use of the dollar as the single currency in global transactions, a theme also defended by the Communist Party.

On the first day of his visit to Shanghai, the Brazilian president was aligned with the Chinese discourse.

Lula defended the end of dollarization in commercial exchanges between the member countries of the BRICS – a group of Brazil, Russia, India, China, and South Africa.

(‘Why not the yuan? Why not the real?’ – Lula calls to find an alternative to US Dollar as trade currency)

“Every night, I ask myself why all countries need to make their trade backed by the dollar,” he said.

“Why can’t we trade in our currency? Why can’t we commit to innovating?”

“Who decided the dollar was the currency after gold disappeared as a parity?”

“Why wasn’t it the yen? Why wasn’t it the real, the peso?”

“Because our currencies were weak, they had no value in other countries.”

In the sequel, Lula sent another indirection to the United States.

“Why can’t a bank like the BRICS bank have a currency to finance commercial relations between Brazil and China, between Brazil and other countries?”

“It is difficult because there are people who are ill-accustomed to it. Everyone depends on a single currency.”

According to Lula, it is not fair that “we end the 21st century as we started the 20th century: those who were rich got richer, and those who were poor got poorer.”

During his speech, the president again defended the reform of the global governance system, another point he shares with Beijing, and criticized the International Monetary Fund, which “stifles” developing countries with its conditions.

With information from Revista Oeste