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 Debate, and also in an article for the "Financial Times", Brazilian president Dilma Rousseff called for the currency war to be ended by increased use of floating currencies and greater cooperation and solidarity among major economies, with exchange rate policies set for the good of all rather than having individual nations striving to gain an advantage for themselves. In March 2012, Rousseff said Brazil was still experiencing undesirable upwards pressure on its currency, with its Finance Minister Guido Mantega saying his country will no longer "play the fool" and allow others to get away with competitive devaluation, announcing new measures