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 ever. In May, Alan Beatie for the "Financial Times" suggested that the Currency War was not over, it had merely entered a lull, with the underlying tensions still unresolved. In July 2011, Guido Mantega told the "Financial Times" that the struggle between China and the US was still ongoing, suggesting that several emerging economies including Brazil were still experiencing undesirable upwards pressure on their exchange rates. As investor confidence in the global economic outlook fell in early August, Bloomberg suggested the currency war had entered a new phase. This followed renewed talk of a possible third round of quantitative easing