This is the end of the US world hegemony my friend:
Earlier, WSJ reported that Brazil had turned to the Chinese for help financing its domestic oil business. In return, the Chinese would get guaranteed oil supplies. That’s not all President Lula was discussing on his trip to Beijing… (FT)
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Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides to Luiz Inácio Lula da Silva, Brazil’s president.
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