Brazil and China planning link-up to ditch dollar

A Central Bank of Brazil official has said that trade between the country and China will be conducted in reals and renminbi rather than dollars.

An unnamed official was quoted in the Tuesday edition of the Financial Times, a newspaper, as saying: "What we are talking about now is Brazil paying for Chinese goods with reals and China paying for Brazilian goods in renminbi." Talks were, the official said, at an early stage and Henrique Meirelles, the governor of the Brazilian central bank, and h