Brazil and China sign 30bn dollars swap to boost trade and better weather global turbulence

Friday, June 22nd 2012 - 07:55 UTC

Full article 5 comments

Brazil and China will sign an agreement in the coming weeks to swap as much as 30 billion in their two currencies, Brazil Finance Minister Guido Mantega said. Read full article

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ChrisR
So Argentina missed out again with The Mad Bitch of Argentina having to run-off home to 'settle' the Teamsters Union (but still on strike next week).

Mind you, the Chinese are not so stupid as to LEND the Agies a Pesos.
Jun 22nd, 2012 - 12:47 pm - Link - Report abuse 0
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geo
Brazil' export partner China holds up 17.2 % of Brazil exporting(2011) while was 6.2 % of it in 2006...in the future will be more .!
Jun 22nd, 2012 - 05:54 pm - Link - Report abuse 0
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GeoffWard2
Brasil still needs a broad trade agreement with the EU. This would give Brasil a more diversified world-trading-profile.

There is no doubt that diversity in trade partners gives stability without hegemonical influences, even in (especially in) these turbulent economic times.

Over-tying itself to China brings the obvious risks .... doubly so if the China reciprocality is tied to ore export with its huge commodity price fluctuations.

The problems in Paraguay will lead to Venezuela entering (a moribund) Mercosur; Argentina's economy is collapsing; Brasil's trading activities are hampered by Argentina's stance. Brasil needs trading freedoms, but more than this, it needs to evolve 'a balanced hand'.
Jun 22nd, 2012 - 09:11 pm - Link - Report abuse 0
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Conor
I miss Da Silva. :(
Jun 22nd, 2012 - 09:21 pm - Link - Report abuse 0
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GeoffWard2
Marina or Lula?
Jun 23rd, 2012 - 08:53 am - Link - Report abuse 0
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