if brics set up a grain exchange, with their own payment system ... then maybe australia will lose the chinese market..
maybe totally irrelevant .. but when bully boy america threatened to punish china, if they kept supplying russia with anything that could help russia in their ukraine conflict .. watso read that the way they tried to impose their will was to impose sanctions on chinese banks who facilitated the trade ..
obviously the americans can only impose sanctions on chinese banks, is if they operate in america - or their vassal states .. ... well financial intermediaries popped up, who had no exposure to america ..
in the fullness of time, the chinese would probably like to decouple completely from the american dollar .. and australian wheat sales would be in american dollars ..
watso has read about the possibility of a metals exchange .. ie forget about the LME.. it is not as if the old colonial powers are blessed with too much in the way of natural resources .. so it would be relatively easy to bypass the LME
