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As international credit remains scarce, we will have enough credit for our transactions,

Brazils Finance Minister Guido Mantega said on the currency swap deal China and Brazil have agreed in a bid to safeguard against any global financial crisis and to strengthen their trade tides. The pact will allow their respective central banks to exchange local currencies worth up to 60 billion reais or RMB 190 billion. The amount can be used to shore up reserves in times of crisis or put towards boosting bilateral trade. China is Brazils biggest trading partner. The agreement is the latest in a series of similar deals China has signed with its trading partners. China and Brazil have agreed to cooperate in various sectors to boost bilateral trade. They will work closely in mining, industrial, aviation and infrastructure development. “China will keep on being the place to do business,” Mr. Mantega said.

It is necessary to address both the symptoms and root causes of terrorism and adopt a comprehensive approach,

commented Wang Min, Chinas deputy permanent representative to the UN, addressing the General Assembly where the UN Global CounterTerrorism Strategy was reviewed. “It is of vital importance to eliminate gaps between the rich and the poor and social injustice, properly settle regional conflicts and prevent the spread of separatism, extremism, violence, hatred and intolerance in combating terrorism. China hopes that the international community will pay more attention to solving the root causes of terrorism and implement its strategy in a balanced and comprehensive manner,” he said. Wang noted that in combating terrorism the UN Charter and basic norms of the international law must be adhered to and the independence, sovereignty, unity and territorial integrity of the member states must be respected. Wang also stressed the importance of dialogue in the fight against terrorism to promote understanding and tolerance among different cultures.