China - Brazil deal: ditching the US dollar

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There’s also a similar deal with Saudi Arabia

https://finance.yahoo.com/news/brazil-c ... 49866.html

The US Dollar has a new competitor.

That's probably less of an issue that it sounds. The USD is currently being bought, handed over to the other nation before being sold. That kind of thing shouldn't have much impact on the value of the USD as the buying and selling for that purpose largely offsets itself. Sure, there can be a delay when one side or the other things that waiting is going to result in a favorable shift in exchange rates, or the money isn't needed in the local currency yet.

Having lived in China for the better part of 2 years, the country is a basket case. Things had been improving, but with the last couple years of lock-downs betting on Covid zero and how far behind they are in terms of infrastructure, this is far less of a threat to the US' economy than flat out forgetting how to produce certain categories of products domestically and potential tampering of chips by their security aperatus.

Also, keep in mind that the country's growth rate has begun to shrunk and barring significant change, it will be interesting to see whether the per capita GDP growth is sufficient to offset the reductions in number of people contributing to the GDP.