BRICS Nations China, India and Brazil Dump $29,000,000,000 in US Treasuries in One Month As Standard Chartered Warns ‘Dedollarization Is Real’
Three BRICS countries, China, India, and Brazil, reduced their US Treasury holdings by $29 billion in September. India led with a $16.7 billion reduction, followed by Brazil with $11.8 billion, and China with $500 million. This move aligns with Standard Chartered's warning that dedollarization is real and progressing slowly.
Three BRICS countries just slashed their US Treasury holdings.
New data from the U.S. Treasury International Capital reporting system showsBrazil, China and India cut their US Treasury holdings by $29 billion in September.
India led the pack, reducing its US Treasury holdings by $16.7 billion in the last month of Q3.
Brazil scaled down its US Treasury holdings by $11.8 billion over the same period.
China, which is now the third-largest holder of US Treasuries after Japan and the United Kingdom, pruned its US Treasury holdings by $500 million in September.
The selloff coincides with Standard Chartered’s senior economist and global head of geopolitics, Philippe Dauba-Pantanacce, stating that dedollarization is already underway, albeit progressing slowly.
According to Dauba-Pantanacce,
