Brazil’s president has blasted the monstrous role of the US dollar in the global economy during a formal visit to China after the two nations forged a recent pact to replace the dollar with their own currencies in trade deals.
"Why should every country have to be tied to the dollar for trade? Who decided the dollar would be the world's currency?" asked President Luiz Inacio Lula da Silva at a Thursday ceremony in China’s largest city and global financial hub, Shanghai, to inaugurate his political ally Dilma Rousseff as president of the New Development Bank set up by the BRICS member nations -- Brazil, China, Russia, India and South Africa.
"Why can't a bank like the BRICS bank have a currency to finance trade between Brazil and China, between Brazil and other BRICS countries? Today, countries have to chase after dollars to export, when they could be exporting in their own currencies," added visiting Lula, who is currently touring China aiming to further expand ties with his country’s top trading partner.
The 77-year-old president, who is due to meet with his Chinese counterpart Xi Jinping in Beijing on Friday, intends to reposition Brazil as a global go-between and deal broker, spreading a message that "Brazil is back" as a key player on the global stage.
Lula’s administration declared last month that China and Brazil had reached a deal to trade in their own currencies, ditching the US dollar as an intermediary.
Under the currency deal, Brazil and China named two banks – one in each country – to conduct their massive trade and financial transactions by directly exchanging yuan for reais and vice versa, rather than going through the dollar.
China is Brazil's biggest trading partner, with a record $150.5 billion in bilateral trade last year.....more below
Volker Turk has warned that efforts to advance reparatory justice are facing resistance in “certain quarters,” and urged countries to back Africa’s push.
Reparatory justice for historical crimes, including colonialism, enslavement, and the trade in enslaved Africans, is crucial to dismantling systemic racism, UN High Commissioner for Human Rights Volker Turk has said.
Speaking at the UN Permanent Forum on People of African Descent on Tuesday, Turk linked present-day discrimination against people from the continent to the enduring legacy of colonialism and enslavement.
”Racism and dehumanizing rhetoric continue to permeate public institutions, communities, and online platforms,” he said, according to the UN Press Service. Turk noted that “digital technologies, including AI, are reproducing and amplifying existing biases against people of African descent.”
The remarks come weeks after the UN General Assembly adopted a resolution declaring the transatlantic slave trade “the gravest...
The US VP had to defend President Trump’s Gaza policy at a rally on a Georgia college campus.
US Vice President J.D. Vance was forced to defend Washington’s policy in Gaza after he was booed and heckled at a key MAGA event on Wednesday.
Co-founded by the late Charlie Kirk, Turning Point USA (TPUSA) is a conservative student group that has long been seen as a strong support base of President Donald Trump’s MAGA movement but is now showing apparent cracks.
Less than 15 minutes into a TPUSA event at the University of Georgia on Wednesday, Vance was interrupted by hecklers over US policy in Gaza, with one audience member shouting, “Jesus Christ does not support genocide!” As he attempted to respond, others shouted, “You’re killing children!” and “You’re bombing children!”
Vance replied by referring to Trump’s achievements as president, including securing a fragile ceasefire in Gaza, something he said the previous administration of Joe Biden failed to do.
“I ...
Sergey Shoigu has cautioned Finland and the Baltic states against allowing Kiev to use their airspace for attacks on Russia.
Russia would have the right to retaliate if Finland and the Baltic states are deliberately allowing Ukrainian drones to pass through their airspace, Security Council Secretary Sergey Shoigu said on Thursday.
“Recently, there has been an increase in Ukrainian drone strikes against Russia via Finland, Lithuania, Latvia, and Estonia,” Shoigu told journalists. “As a result, civilians are suffering and significant damage is being caused to civilian infrastructure.”
Either Western air defenses are proving ineffective, or these four countries “deliberately provide their airspace, thereby becoming open accomplices in aggression against Russia,” he added. In the latter case, Moscow has the right to self-defense in response to an “armed attack” under Article 51 of the UN Charter, the security chief stressed.
In recent weeks, Kiev has intensified drone strikes on ...
