Former Treasury Secretary Lawrence Summers has expressed concerns that a rising number of countries are aligning themselves against the U.S. $USD dedollarization
Growing Links Between Middle East, Russia, China Pose Huge Challenge for US, Warns Former Treasury Secretary
He explained that a growing number of countries are aligning themselves on the opposite side of the U.S., elaborating: Recently, Brazilian President Luiz Inácio Lula da Silva visited China and met with Chinese President Xi Jinping. Lula said Saturday that Brazil’s relationship with China “is going beyond that phase of commodity” exports. The Brazilian president also urged developing countries toas the global reserve currency. China also recently brokered talks between Iran and Saudi Arabia, the two great oil-producing rivals of the Middle East.
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