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In this discussion, Seth Denton and Dan Geltrude analyze the implications of China and Brazil's agreement to use their own currencies for trade instead of the US dollar. Denton indicates that this shift could weaken the dollar, leading to higher import costs over time, which poses challenges since the US imports more than it exports. He emphasizes that this development may be largely symbolic, as the US dollar still accounts for around 60% of global foreign currency reserves, whereas the Chinese yuan comprises only about 2-3%. The conversation highlights the potential impact on the US economy and the ongoing efforts by China to enhance its global currency status.