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China and Brazil have reached a deal to trade using their own currencies, bypassing the US dollar, which facilitates their annual trade of $150 billion. This agreement is part of China's strategy to diminish reliance on the US dollar in international transactions, expanding its currency arrangement beyond countries like Russia and Saudi Arabia to include Brazil, a major player in Latin American exports. While the US dollar remains the dominant global reserve currency, there are growing concerns about the diminishing confidence in it due to current US policies, leading some to speculate about its long-term status as a superpower currency.
