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 other countries not directly involved such as Australia; if the "currency war" continues they may be exposed to harmful upwards pressure on their exchange rates. By December 2010, currency war was less of a hot topic and wasn't even on the agenda for the bilateral trade talks held between China and the US, but the issues still remain unresolved, with many emerging economies considering increased use of capital controls to cope with potentially de-stabilising capital inflows. January 2011 saw new interventions to prevent currency appreciation and volatility from Brazil, South Korea and even from Chile – a country with a