Brazilian President Lula Proposes BRICS Develop New Trade Currency
2025-07-06 10:10:51
Main Idea
Brazilian President Lula proposes the development of a new BRICS trade currency to disrupt global trade settlements and benefit humanity, amid concerns over U.S. dollar hegemony.
Key Points
1. Lula emphasizes the importance of a BRICS trade currency to avoid repeating the negative outcomes of the 20th century.
2. The proposed currency could challenge the dominance of the U.S. dollar in global trade.
3. Former U.S. President Trump has previously threatened BRICS with high tariffs if they pursue such a currency.
4. Lula calls for collaboration with the New Development Bank (NDB) to develop the new trade currency.
5. The concept of a BRICS currency has been discussed multiple times, highlighting its potential impact on global finance.
Description
Lula proposed this new BRICS currency in the context of a world that must embrace free trade and multilateralism. The Brazilian leader acknowledged that the proposal presents several challenges but emphasized that it is necessary for the benefit of humanity. Lula: Development of New BRICS Trade Currency Is Extremely Important The emergence of a BRICS
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