Arcadia Economics: BRICS, China Sell US Treasuries Big Pre-Summit

As the world grapples with the ongoing trade war, another significant event is on the horizon: the BRICS Summit. The BRICS nations, comprising Brazil, Russia, India, China, and South Africa, are set to meet and discuss various issues, including the de-dollarization of their economies. This development creates an interesting dynamic, especially in light of President Trump’s threats to shut out any countries that de-dollarize. De-dollarization refers to the process of reducing the dominance of the US dollar in international trade and finance. The BRICS nations have been increasingly advocating for this move, as they seek to reduce their dependence on…