Brazil’s Lula Clinches Deals in Beijing

Chinese President Xi Jinping (C) with Brazilian President Luiz Inacio Lula da Silva (2nd L). (Photo by FLORENCE LO / POOL / AFP)

Brazil announced a currency swap agreement with the People’s Bank of China for $27.69 billion over five years.

The announcement comes as $4.5 billion in trade and investment deals were signed. These include a $881.6 million deal for the delivery service Meituan to enter the Brazilian market. The Chinese firm CGN Power announced a $528.9 million deal for a wind, solar, and energy storage hub.

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by CGSP Staff

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