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Banzai076 t1_je8gyxh wrote

I feel like with the proven success of military weapons and a ton of other countries wanting to buy, I don’t know how much of an impact this will really cause. If someone does, please explain, would love to learn!

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autotldr t1_je8iybj wrote

This is the best tl;dr I could make, original reduced by 70%. (I'm a bot)

> Brazil and China have reportedly struck a deal to ditch the U.S. dollar in favor of their own currencies in trade transactions.

> The deal, announced Wednesday, will enable China and Brazil to carry out trade and financial transactions directly, exchanging yuan for reais - or vice versa - rather than first converting their currencies to the U.S. dollar.

> The Brazilian Trade and Investment Promotion Agency said the new arrangement is expected to "Reduce costs" and "Promote even greater bilateral trade and facilitate investment."

Extended Summary | FAQ | Feedback | Top keywords: Brazil^#1 trade^#2 China^#3 deal^#4 U.S.^#5

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ricardo9505 t1_je8jqgh wrote

Sorry but this is like before with other nations in trade. Makes total sense from their perspectives.

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Elsewhere3000 t1_je8kc2f wrote

Replying to Banzai076 (#2,473,580)

It will cause rapid inflation in the dollar and us. The dollar loses purchasing power. The US will look at it like an economic attack, which it is, and will try to seize back power. We’re in for a big conflict. I hope I’m wrong..

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Electronic_Ad5481 t1_je8l39u wrote

Brazil better be ready to deal with Chinese capital controls and currency manipulation.

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VaginaPirate t1_je8l8oo wrote

Dear Brazil, China is going to fuck you over.

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GjahtariKuq t1_je8mt2n wrote

Replying to ChamacoBaboso (#2,474,395)

Not really. The world is going to trade in Dollars when dealing with americans and the anti americans will have their own thing going.

Also, this is not trading in yuan. They will trade with both of their currencies. Not just yuan.

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Chambawamba1995 t1_je8n0dq wrote

Brazil: “We can not depend on dollars!!!” China: “What about depending on yuan?” Brazil: “Wow, cool! That’s better!”

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4usGump t1_je8ojla wrote

China be like: hey now that we’re exchanging currencies how about we send some friends over there to help with your ports roads and infrastructure. 😐

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GjahtariKuq t1_je8peco wrote

Replying to Abupapi (#2,475,182)

Its not like america can stop them. They are adversaries.

Russia and china keep screeching about bipolar world disorder and this is one of the symptoms.

The smart decisions is to let them. Every single potential russian or chinese slly hate each other, not just politically. They only appear united because of America is such a threat to them.

Brazil? Jesus Christ lol. Brazil is not a stable or ssfely developing country.

Russia. They fix their economic issues by msking them worse.

India? They hate china. Unstable. High possibility of a civil war between hindu ultrs nstionalists and minorities/muslims.

China? Aging population. A system that needs to msnufacture reasons for it to exist snd employs theatrics to deal with issues like zero covid policy from Xi. I dont know anyone thst can praise china for anything culturally. China has no way to influence culture. All of their allies are more like business psrtners. They can betray china snd china can betray them immediately.

South Africa? Lol. Defacto a failed state. Other allies BRICS has is iran, belarus, serbia, north korea, syria and myanmar. Power houses of influence and economy lol.

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Substantial_L1ght t1_je8q05m wrote

This is largely symbolic. There are only so many Brazilian Reals China can accumulate before they will need to get rid of it on the open market and that means they will eventually have to translate Reals to US dollars.

In any trading arrangement, as long as one side is exporting more than the other - in this case China - they will eventually need to use the reserve currency or be stuck with a lot of fiat currency that can’t be used to buy anything.

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good_for_uz t1_je8zktc wrote

Does anyone think fiat currency was a bad idea yet?

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saltysupp t1_je93spg wrote

Looks like the US will invade Brazil to save the rainforest any day now.

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Arthur_DK7 t1_je96kb2 wrote

Replying to VaginaPirate (#2,474,519)

To this moment the only thing China has done to us was a fucking ton o investment (btw i had a lecture from Huawei about solar energy and it's market in my university some days ago)

While this our little fried US has a great historic of funded military dictatorships and interference on our system

So yeah, the only one who fucked us over for now was the US

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PerfectChicken6 t1_je9ehoo wrote

Replying to good_for_uz (#2,479,985)

Firstly, the statement presents a simplistic view of language instruction in African nations. While it may be true that some African countries teach Mandarin on their curriculum, it does not necessarily mean that Mandarin is more widely taught than any colonial language.
Secondly, the statement implies that China's foreign policies and economic activities are universally positive. However, there have been concerns raised about China's approach to diplomacy, particularly its use of debt-trap diplomacy, where it lends large sums of money to developing countries, often for infrastructure projects, which these countries may struggle to repay.
Thirdly, while it may be true that China has made significant progress in nuclear fusion research and technology production, it is worth noting that China has also been accused of intellectual property theft and forced technology transfer from foreign companies as part of its industrial policy. Additionally, technology production is not the only measure of a country's development and success.
Finally, while China has made significant economic progress in recent decades, it is important to note that economic growth alone does not necessarily translate into improved standards of living for all citizens. China and its political system remains highly centralized and authoritarian.

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good_for_uz t1_je9f6gc wrote

Replying to PerfectChicken6 (#2,480,064)

>it does not necessarily mean that Mandarin is more widely taught than any colonial language.

I said, after colonial languages

>Secondly, the statement implies that China's foreign policies and economic activities are universally positive.

I never said it was positive, it was meant as a warning

>Thirdly, while it may be true that China has made significant progress in nuclear fusion research and technology production, it is worth noting that China has also been accused of intellectual property theft and forced technology transfer from foreign companies as part of its industrial policy. Additionally, technology production is not the only measure of a country's development and success.

That is exactly the point I was making that they piggyback of other countries through intellectual property theft.

I was countering the argument that they are stuck in the 50s

>Finally, while China has made significant economic progress in recent decades, it is important to note that economic growth alone does not necessarily translate into improved standards of living for all citizens. China and its political system remains highly centralized and authoritarian.

They are authoritarian but by international standards they have moved more people out of extreme poverty than any other nation.

I'm not selling Chinese dominance as a good thing I was just pointing out what is happening. All according to WSJ.

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good_for_uz t1_je9fjqf wrote

Replying to PerfectChicken6 (#2,480,231)

I agree, that is why they cite their sources and any amount of time spent looking into what I've said will show it's true.

I'm sorry you think I'm lying but these are all facts based on statistics ( if the statistics are false then what can we go on) and I'm not pro China in fact I'm worried for the future if these facts are true

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SWaitingInTheSky t1_je9ziu7 wrote

Replying to PerfectChicken6 (#2,479,862)

US set the course of the events that culminated on the election of Bolsonaro. Every time Brazil started actually going somewhere, Uncle Sam made it sure to fuck us over and over again. Thank you very much, but Brazil has a better chance with any other country in this planet.

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Bring_Bring_Duh_Ello t1_jea0lie wrote

Replying to [deleted] (#2,477,680)

Once again, these are projections, interpretations and general bull shit.

One who is strong doesn’t need to constantly project strength. Said differently, a yuan backed agreement with Brazil is not representative of anything, except that Brazil is dumb enough to sign up.

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PerfectChicken6 t1_jea14tr wrote

Replying to SWaitingInTheSky (#2,485,447)

I think, Brazil is shooting itself in the foot, Bolsonaro really did some serious damage to the whole world. I am pulling for Brazil, really I want the very best for your country, China has had its chance to be a force for good. They are not interested in that. You will be Hong Konged, sorry about the shit that past U.S. Presidents have done to Brazil. There is a better way for Brazil, ask ChatGPT, I am about to.

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PerfectChicken6 t1_jea2q96 wrote

Replying to PerfectChicken6 (#2,485,901)

I am just playing around with Chat, I don't spend much time studying Brazil at all, but this from Chat is pretty close to what I am trying to warn you about:

I would advise Brazilian intelligence services to closely monitor China's role in Myanmar, which has been a source of growing concern for the international community.
China has historically maintained close ties with the Myanmar government and has provided political and economic support to the country, including arms sales and infrastructure investment. However, China's relationship with Myanmar has become increasingly complicated in recent years, as the Myanmar military's crackdown on pro-democracy protests has drawn international condemnation and raised questions about China's role in the conflict.

−2

Electronic_Ad5481 t1_jeadyd1 wrote

Replying to 7thpostman (#2,474,967)

I love how we’re being downvoted.

Where is the gif of “what are you angry at me for, I’m right!”

Heck China has forced Russia to trade with it in yuan and that has cost Russia dearly. China is very keen on not taking large sums of yuan back from Russia.

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Elsewhere3000 t1_jeaep0i wrote

Replying to Bring_Bring_Duh_Ello (#2,475,416)

Over the past 2 weeks:

  1. Saudi is considering using Yuan for petrol. USD is backed by oil. Not gold.
  2. China and France complete the first transaction for LNG (gas) using the Yuan with no intermediary.
  3. Russia considers using the Yuan as a reserve currency.
  4. Saudi partners with China to build oil refineries for 83.7 billion Yuan ($12 billion USD).
  5. China and Brazil which we are talking about here.

The percentage of global USD reserves is down from %72 in 1999 to %59 today.

It’s happening. Slowly but it’s happening.

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Bring_Bring_Duh_Ello t1_jeag7yb wrote

Replying to Elsewhere3000 (#2,489,558)

  1. To be clear the yuan is not even among the top 4 reserve currencies which are USD, Euro, Pound and Swiss franc.

  2. Government transparency - how many people truly understand the dynamics behind the Yuan? Maybe 35 members on the China State Council (if that). The lack of transparency will be a major drawback against the Yaun.

  3. As Chinese middle class expands more Chinese are likely to spend in the worlds number one economy, or the US. Which will in turn result in US companies selling more to China. These demographics and economic factors only add, not subtract, from the strength of the USD.

  4. The USD stands on solid bedrock of the 310M population whereas the Yuan is spread across 1.3B Chinese who are not only aging as a population but will begin to demand more rights. Social unrest and political pressure are coming in the mid to near term

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GjahtariKuq t1_jec28j1 wrote

Replying to Abupapi (#2,503,653)

You knoe, i wouldnt mind a bunch of highly corrupt dysfunctional mafia states coming together to create a circlejerk. If nothing else, it will be funny to see ultranationalist russians, chinese, indians, south africans being in a room for cooperation but absolutely shittallking and backstabbing each other.

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Bring_Bring_Duh_Ello t1_jec4v6x wrote

Replying to Elsewhere3000 (#2,489,644)

This has been projected since 1990 and the date continues to be pushed back. The aging population will only make this more difficult if not impossible. In 2035 they will be fully realizing this reality. Come back and remind me when it happens.

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TheKingofSwing89 t1_jec7mqu wrote

Replying to SWaitingInTheSky (#2,478,779)

Lol you haven’t seen anything. I know down there you like to blame the US for every internal problem you have but in reality, that’s not the case. Have fun when the Chinese create their detention camps on your own soil.

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SWaitingInTheSky t1_jec9dp5 wrote

Replying to TheKingofSwing89 (#2,505,277)

Friend, it's you who haven't seen anything. You don't know how it's like to be US playground, so don't pretend you do. I know you probably see yourselves like some kind of hero or attic of freedom and democracy, but you should see what US does to developing country.

I don't fear China simply because there is not a single thing that they can do, that US has not done yet to us. And who knows, maybe they're not so bad as your Washington propaganda says.

And at the end of the day, I just needed to read this thread to make my mind. Anything that makes you Americans so mad is a good thing for the rest of the world. I hope US crumbles on itself and the world gets free from the sickness of capitalism and American influence.

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