{"id":2667,"date":"2018-12-05T17:14:23","date_gmt":"2018-12-05T17:14:23","guid":{"rendered":"http:\/\/baileyonlineclassroom.com\/theamericasblog\/?p=2667"},"modified":"2018-12-05T17:14:23","modified_gmt":"2018-12-05T17:14:23","slug":"china-and-argentina-sign-currency-swap-deal-after-g20-summit","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/2018\/12\/05\/china-and-argentina-sign-currency-swap-deal-after-g20-summit\/","title":{"rendered":"China and Argentina sign currency swap deal after G20 summit"},"content":{"rendered":"<p><span style=\"font-weight: 400\">https:\/\/www.aljazeera.com\/news\/2018\/12\/china-argentina-sign-currency-swap-deal-g20-summit-181202165338460.html<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">Argentina&#8217;s central bank has signed a deal with its Chinese counterpart to expand a currency swap programme by eight billion dollars, the bank said in a statement.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">The agreement is an extension of a swap first agreed between the two countries in July 2017. The new deal, announced on Sunday during a state visit by Chinese President Xi Jinping, brings the total swap amount to $18.7bn.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">In a currency swap, the first party borrows a specified amount of foreign currency from the counterparty, while at the same time, lending a corresponding amount to the counterparty in the currency that it holds.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">Presidents Mauricio Macri of Argentina and Xi also announced more than 30 agriculture and investment deals.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">China is among Argentina&#8217;s top export markets, especially for agricultural commodities that are the engine of its economy. The move is meant to reinforce economic and political ties between the two countries.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">Macri said that China&#8217;s development benefits Argentina and the world.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">The announcement comes after US officials said they had reached a 90-day truce in their trade dispute with China, a spat that has rattled financial markets and imperilled global economic growth.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">That announcement followed a Saturday dinner meeting between Xi and US President Donald Trump following the G20 summit in Buenos Aires.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">Xi is now scheduled to visit Panama, which has been negotiating a free-trade deal with China.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>https:\/\/www.aljazeera.com\/news\/2018\/12\/china-argentina-sign-currency-swap-deal-g20-summit-181202165338460.html Argentina&#8217;s central bank has signed a deal with its Chinese counterpart to expand a currency swap programme by eight billion dollars, the bank said in a statement. The agreement is an extension of a swap first agreed between the two countries in July 2017. The new deal, announced on Sunday during a state visit by Chinese President Xi Jinping,&#8230; <a href=\"https:\/\/baileyonlineclassroom.com\/theamericasblog\/2018\/12\/05\/china-and-argentina-sign-currency-swap-deal-after-g20-summit\/\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":105,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[55,16,86,87,89,88],"class_list":["post-2667","post","type-post","status-publish","format-standard","hentry","category-article","tag-argentina","tag-china","tag-currency-exchange","tag-free-trade","tag-g20","tag-panama"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts\/2667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/users\/105"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/comments?post=2667"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts\/2667\/revisions"}],"predecessor-version":[{"id":2668,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/posts\/2667\/revisions\/2668"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/media?parent=2667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/categories?post=2667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/theamericasblog\/wp-json\/wp\/v2\/tags?post=2667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}