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Brazil-China Yuan Trade Deal Not a Game Changer

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Brazil-China Yuan Trade Deal Not a Game Changer
Brazil's President Luiz Inacio Lula da Silva (L) talks to China's Ambassador to Brazil Zhu Qingqiao at the Palacio do Planalto in Brasilia on Feb. 3, 2023. Sergio Lima/AFP via Getty Images
Antonio Graceffo
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Commentary
According to a statement by the Brazilian government, Brazil and China reached an agreement on March 29 to conduct trade in their own currencies rather than the U.S. dollar.
Antonio Graceffo
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
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