China: Another way to boost the economie.

As a way to boost their growth, China now is trying to increase their trade with latin american countries and also are signing currency swaps to globalize the yuan.

From BBC

China has offered to set up a $10bn (£6.4bn) credit line for Latin American countries to support infrastructure projects in the region.

Latin American countries are also rich in natural resources and China is one of the biggest consumers in the world of those resources. 

Beijing imports various commodities, including iron ore, copper and corn from these countries. 

Meanwhile, China, which is known for the manufacture of low-cost goods, has been looking to increase its exports to the region as it faces slowing demand from key markets such as the US and Europe. 

Currency swaps 

Along with increased trade, Premier Wen also pushed for currency swap agreements with the region's economies.

The agreements allow respective central banks to swap currencies and can be used by firms to settle trade in local currencies rather than in US dollars.