[Scythian]

Brazil and China Move to Settle Trades Using the Chinese Yuan.


Brazil and China have moved towards a tighter trade integration, having processed their first bilateral settlement using the Chinese yuan. The first transaction was processed by the Industrial and Commercial Bank of China (ICBC), the bank designated by the Chinese government to act as a clearing institution for Brazilian companies determined to use the yuan for international settlements.

The integration of the Chinese yuan in cross-border settlements signals a new, simpler way for companies to be involved in trade transactions without including a third currency conversion factor. Brazil and China inked an agreement last month to settle bilateral transactions using national currencies.

[debono]

Brazil and China Move to Settle Trades Using the Chinese Yuan.


Brazil and China have moved towards a tighter trade integration, having processed their first bilateral settlement using the Chinese yuan. The first transaction was processed by the Industrial and Commercial Bank of China (ICBC), the bank designated by the Chinese government to act as a clearing institution for Brazilian companies determined to use the yuan for international settlements.

The integration of the Chinese yuan in cross-border settlements signals a new, simpler way for companies to be involved in trade transactions without including a third currency conversion factor. Brazil and China inked an agreement last month to settle bilateral transactions using national currencies.

So the USD  is no more the currency of trade.................

[WhatDoYouThink!]

Shd hv done that long time ago

[Huliwang]

So the USD  is no more the currency of trade.................

I think they still use the USD to determine the value of each country's currency for the purpose of deriving an exchange rate. If they use GOLD as the standard, then we can consider they dumped the USD for good. .....

[sgbuffett]

I think they still use the USD to determine the value of each country's currency for the purpose of deriving an exchange rate. If they use GOLD as the standard, then we can consider they dumped the USD for good. .....

95% of forex trade involves the US$.

So long as China has currency controls to limit Chinese citizens taking money out of China it can never be a reserve currency ...if Chinese themselves cannot take out their money no country will keep Yuan as  reserve co

[Niubee]

95% of forex trade involves the US$.

So long as China has currency controls to limit Chinese citizens taking money out of China it can never be a reserve currency ...if Chinese themselves cannot take out their money no country will keep Yuan as  reserve co

95%? Which website to verify this number? Or pluck from air?

[debono]

95%? Which website to verify this number? Or pluck from air?

That is a good question...................

[Niubee]

That is a good question...................

This man also tok cok king

[Scythian]

95% of forex trade involves the US$.

So long as China has currency controls to limit Chinese citizens taking money out of China it can never be a reserve currency ...if Chinese themselves cannot take out their money no country will keep Yuan as  reserve co

Now, yes

But future maybe different

[RiseofAsia]

Shd hv done that long time ago

I thought he has signed the agreement before visiting to China.
BRICS is initiated by him. His own baby.
His disciple is the current bank chief.

[sgbuffett]

95%? Which website to verify this number? Or pluck from air?

Hi this number is from global forex market trading data.

[debono]

Hi this number is from global forex market trading data.

But this narrative suggested 90% not  95%.........................

[sgbuffett]

But this narrative suggested 90% not  95%.........................

It says approx. 90%. I came across 95% figure but could be another time period.

Anyway 90%....is still a high figure.

[Niubee]

It says approx. 90%. I came across 95% figure but could be another time period.

Anyway 90%....is still a high figure.

加盐加畜，好厉害

[Scythian]

.
Singapore financial centre will be shifted North East region.

[sgxin]

95%? Which website to verify this number? Or pluck from air?

90 or 95% probably refers to the paper trading market and not the amount used for physical trade between countries.
Another example will be paper gold vs physical gold trading.
Just for London, millions of tonnes of gold is traded yearly, whereas physical gold in the entire world is less than 30K tonnes.

[watchfirst9]

It says approx. 90%. I came across 95% figure but could be another time period.

Anyway 90%....is still a high figure.

It is true RMB will not come close,  
as commodities and merchandise is part of the use, there is also currency, bonds or swap. 

China trade surplus also meant RMB outshore will be restricted. 

Also Brazil will also want part of the settlement in Real 
Brazil's New Fiscal Plan Is Boosting the Real, Treasury Chief Says
Bloomberg L.P.|3 days ago
Brazil's new fiscal plan is helping to boost investor confidence in Latin America's largest economy, increasing demand for its local bonds and fueling a currency rally, according to Treasury Secretary Rogerio Ceron.

So it is likely to see a couple currencies being more traded in coming years. 

However it is inevitable the ratio will be reduced, dollar will work lot harder to influence prices and borrow money.

[grotesqueness]

all international banks support US dollars


no international banks support yuan

why there is no support of yuan ?

because yuan cannot be trusted


so yuan is temporary

[sogo]

all international banks support US dollars


no international banks support yuan

why there is no support of yuan ?

because yuan cannot be trusted


so yuan is temporary

The lack of common sense in u is worrying.

[grotesqueness]

The lack of common sense in u is worrying.

you have no idea how the World Bank Group (WBG) and the International Monetary Fund (IMF) works

i have inside source from World Bank Group (WBG) and the International Monetary Fund (IMF)


you dont have

[Manthink]

Singapore financial centre will be shifted North East region.

It has always been that way - just that the Chinese was (and still is) developing towards a more open financial system.
That's why SG is one of the few countries that as RMB-clearing house supported by gov's Monetary Authority of Singapore ?

https://www.cnbc.com/2014/04/28/singapor...enter.html

[Manthink]

you have no idea how the  World Bank Group (WBG) and the International Monetary Fund (IMF) works
i have inside source from  World Bank Group (WBG) and the International Monetary Fund (IMF)
you dont have

Wah...you so privileged ... From your "insight source" , can u tell us  why U.S. Treasury Secretary Yellen die die wanna visit China leh ?

I thought US  which it has control on WB and IMF with their "90%" USD domination....then Washington should be ok with France, Brazil, Saudi, Iran etc etc willing trade using RMB ?

https://www.reuters.com/article/imf-worl...SW1N2V704S

[aiptasia]

you have no idea how the  World Bank Group (WBG) and the International Monetary Fund (IMF) works

i have inside source from  World Bank Group (WBG) and the International Monetary Fund (IMF)


you dont have

While you are typing this from your rented HDB room with your CECA work pass on your table

[Manthink]

The lack of common sense in u is worrying.

Why worry for grotesqueness  lack of common sense when the Yanks can continue to print their fiat USD day and night without a care ? The beauty of the today's situation is we have seen US bank runs and EU financial system under immense stress .... the last Western Emperor is not wearing any cloth now... Somemore, when big countries like Brazil trade with the Chinese is almost x3 they with the Americans for over 10 years...and SG is just one of many countries vested in S American economises..

[aiptasia]

Dedollarization is gaining rapidly on a global scale and I most certainly welcome that. It's time to break the US dollar hegemony and have other regional and global currencies emerge and lessen the US dollar's position in world trade and commerce.

[grotesqueness]

While you are typing this from your rented HDB room with your CECA work pass on your table

hey

hello


i got four passports

you have?

[grotesqueness]

Wah...you so privileged ... From your "insight source" , can u tell us  why U.S. Treasury Secretary Yellen die die wanna visit China leh ?

I thought US  which it has control on WB and IMF with their "90%" USD domination....then Washington should be ok with France, Brazil, Saudi, Iran etc etc willing trade using RMB ?

https://www.reuters.com/article/imf-worl...SW1N2V704S

US visit taiwan also

what wrong with US visit china


US visit anyone and at anytime of their choosing they wants

what wrong with that

[webinarian]

So the USD  is no more the currency of trade.................

Of course, why use the currency, US$, that America makes use of as a weapon like they did for Russia and IRAN, got kicked out of SWIFT, against your own self.   

If you don't use this currency US$, US also can't use it as a weapon to hit you.   

You like yourself to be attacked and hit by US? If yes, please use US$.   


     
.

[watchfirst9]

The lack of common sense in u is worrying.

Maybe he just migrate to beekok, so he is anxious.

https://www.youtube.com/shorts/hw6Mj34Bsqs
It not easy to change representatives habits as Buffett said.

[webinarian]

US visit taiwan also

what wrong with US visit china


US visit anyone and at anytime of their choosing they wants

what wrong with that

May be it is ok for you if your flg cult chief wants to visit your home any time and any day he wants at his choosing.  

For me, I'll tell your cult chief to f spider.   

  
.