22 June 2012

BRASIL / CHINA : $30 Billion Currency Swap Planned.


     FinMin Guido Mantegna (foto) announced a future swap of as much as $30 billion in currencies between Brasil and China...will be signed in a few weeks.
     Worth 60 bn Reais and 190 bn Yuan...the agreement may mark the pooling of resources among BRIC nations to survive global financial crises...and, of course...bypass the $usd and troubled euro.
     China is Brasil's biggest trading partner...with $76 billion.
     There are also plans for joint satellite launches, language/cultural centers andcooperation on energy and oil.