Brazil–China relations Brazil, with financing oil exploration to repairing railways.The repair of railways and infrastructure came ahead of the Rio Olympics in 2016. There is also a trade phase from raw materials to heavy equipment and industrial goods. The two countries have also signed a currency agreement that will include up to $30 billion dollars worth of Chinese Yuan and Brazilian real. This deal was signed to provide an alternative currency to the US Dollar with respect to the Chinese Yuan. China is considered Brazil's largest trading partners. Brazil and China are members of an economic organization called BRICS, also consisting of
Currency War of 2009–11 very hard to make sure they’re not at an unfair disadvantage with China." "Bloomberg" pointed out at that countries such as Brazil, South Korea and Thailand sold their respective currencies in the weeks preceding the report to curb gains and support export. South Korea, Taiwan, Brazil, Colombia and Russia were also tightening rules to limit capital flows and avoid swings in their currencies. However, the Obama administration decided to postpone the decision to label China a "currency manipulator" until after the G20 summit in South Korea and the United States elections, 2010. China issued its own "warning" against being made