China Continues its Commodities Binge with Brazilian Oil Deal
Feb 23rd, 2009 | By Jason Simpkins | Category: Oil Investment & Alternative EnergyChina Development Bank, one of China’s largest state-owned enterprises, has agreed to lend $10 billion to Brazil’s Petrobras (PBR) in exchange for a long-term supply of oil – the latest illustration of how Beijing is using the global downturn to further its domestic agenda.