Maduro proposes creating international alliance with nations close to Russia and China

Nicolas Maduro, the president of Venezuela, has proposed creating a new international alliance with nations in Latin America and the Caribbean that would have close ties to Russia and China.
During his annual speech at Venezuela’s parliament on Friday, Maduro said that he had recently spoken with the presidents of Brazil, Colombia, and Argentina about forming a new regional organisation.
According to Maduro, the time has come “to unite efforts and paths in Latin America and the Caribbean to advance in the formation of a powerful bloc of political forces, of economic power that speaks to the world.”
The Venezuelan president went on to say that the bloc would create “new poles of power,” and would be allied to Russia and China, the leaders of which Maduro referred to as “elder brothers.”
Such an alliance would comprise “that community of shared destiny that our elder brother President Xi Jinping talks about,” or “that multipolar and multicentric world that our elder brother, President Vladimir Putin, talks about,” Maduro added.

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China ‘counters US dollar hegemony’ with gold reserves, Argentina yuan currency swap deal

By Ben Norton
Jan 8, 2023

China’s central bank has taken a series of steps to accelerate the global drive toward de-dollarization, challenging the hegemony of the greenback.
The People’s Bank of China is increasing the share of gold in its foreign-exchange reserves, bucking the US dollar, which has for decades been dominant in international central bank holdings.
This January, China also signed an agreement with Argentina’s central bank for a currency swap deal, in which Beijing will provide 130 billion Chinese yuan (roughly $19 billion USD) to help Buenos Aires stabilize its currency and economy.
The South American nation said it is “committed to deepen the use of the RMB [renminbi] in the Argentine market for bilateral exchange”. (Renminbi is the official name of the Chinese currency, and is often used interchangeably with yuan, which is the unit of account of that currency.)

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