“Lula advocates currencies beyond the dollar at G7 summit: Insights and Quotes”

2023-05-22 03:40:03

In a press conference in which he took stock of his participation in the G7 summit, where he was the only Latin American Alex Reed, Lula defended the creation of currencies other than the dollar for commercial exchanges and warned of an eventual cold war between the world’s two major powers.

“I hope that there are not people who accept the cold war once more. I don’t want another war like this to happen between China and the United States and we remain subject to those countries. I want a free economy in the commercial world,” he noted.

The use of the dollar in the world market has been criticized on several occasions by the Brazilian president, who recalled that the idea of ​​creating its own currency is already being discussed in the BRICS -organism that brings together Brazil, China, India, Russia and South Africa- so that member countries can trade with it.

“It is not possible that we have to depend on the dollar for foreign trade,” he emphasized.

“I dream of building several other currencies between the countries that have high trade so that they do not remain dependent on a single currency -as well as the euro-. I think it is possible to create it. We just need to have the political and economic conditions to do it, ”he said.

After being questioned regarding the position of the G7 countries that announced to reduce the economic “excessive dependencies” on China, Lula said that he will continue to promote trade relations with the Asian country, which is Brazil’s main partner, as well as with other nations. of the world.

“China is a very important partner. It is our largest trading partner, we want to maintain that relationship, and that does not prevent us from also having it with other countries”, he said.

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