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 the currency war had ended – governments of emerging economies were increasingly deciding to accept currency appreciation so as to mitigate rising food prices, one of the causes behind civil discontent driving the Arab Spring. In April, the "Financial Times" joined Bloomberg in reporting that the currency war was beginning to fizzle out, again suggesting a key reason was the trend for emerging economies to allow currency appreciation as a means to offset inflation. Although Brazil is one of the emerging countries that has recently abandoned intervening against appreciation, her finance minister Guido Mantega disagreed with suggestions that the 'currency