Brazil and China eye plan to axe dollar

[lib2DaBone]

I wonder if this is why GM is using Bailout money to re-furbish their plants in Brazil?

http://www.ft.com/cms/s/0/996b1af8-43ce-11de-a9be-00144feabdc0.html

(snip)

In September, Brazil and Argentina signed an agreement under which importers and exporters in the two countries may make and receive payments in pesos and reals, although they may also continue to use the US dollar if they prefer.

In what was interpreted as a sign of Chinese concern about the future of the dollar, the governor of China’s central bank proposed in March that the US dollar be replaced as the world’s de-facto reserve currency.