http://www.ft.com/cms/s/0/a69f0e02-4...

China bolsters Brazil trade ties

Two-day trip to Beijing headed by Luiz Inácio Lula da Silva, Brazil’s president, results in a host of agreements around oil supplies and chicken and beef imports, boosting the countries’ trade partnership. - May-19

... Beijing also said on Tuesday it would lend up to $10bn (€7.4bn, £6.5bn) to Petrobras, Brazil’s government-controlled oil company, in exchange for guaranteed oil supplies over the next decade. Brazil will provide 200,000 barrels a day of oil to Sinopec , China’s state oil company, for the next 10 years. replacing the US dollar with the renminbi and the real in trade transactions. The move follows recent Chinese challenges to the status of the dollar as the world’s leading currency. ...

...Brazilian officials told the Financial Times on Monday that the governors of the two countries’ central banks would meet soon to discuss