Global Monetary Realignment: Saudi Arabia & Brazil Cozy Up to China- World News 4/2/23
one year ago
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World News Report- In what could spell a dollar devaluation, a major shift has been happening as a result of the polarity created by Russia's invasion of Ukraine & China's positioning itself into global leadership. The Saudi government has approved the kingdom's partial membership in a Chinese-led economic, political and security bloc. Saudi Arabia will join the Shanghai Cooperation Organization with the initial status of a "dialogue partner."
According to the Brazilian government, China and Brazil have reached a deal to trade in their own currencies, ditching the United States dollar as an intermediary entirely, AFP reported.
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