What's Going on with BRICS and the U.S. Dollar? l Episode 278

Something a little different today. I'm talking USD and BRICS nation. Lots of chatter about this right now, very interesting time.

China's heavy reliance on imports for oil and calories underscores its high dependence on the global market. China imports approximately 70% of its oil and 80% of its calories, indicating a significant reliance on other countries to meet its energy and food needs. In contrast, the United States has the potential to achieve energy and calorie independence, suggesting a lesser dependence on imports for these essential resources. I emphasize the asymmetry in the economic relationship between China and the US, highlighting China's greater dependence on the US compared to the reverse.

Listen to the full episode for more.

Want more on BRICS and the USD? Go to my YouTube channel: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

[00:00:09] Importance of the U.S. dollar.

[00:02:32] Energy independence and currency trade.

[00:06:32] US Dollar and Saudi Arabia.

[00:07:29] Dollars and oil conflict.