Brazilian importers turn to Chinese credit insurer to secure trade, despite high interest rates. Chinese suppliers offer deferred payment terms to sustain US$158 billion in trade in 2024.

With one of the world’s highest benchmark interest rates among major economies, Brazilian importers who buy from China are turning to a state-owned Chinese credit insurer to sustain trade flows that reached US$158 billion in 2024. Facing working capital lines that cost upwards of two per cent a month, equivalent to roughly 27 per cent a year according to market calculations, mid-sized importers are securing deferred payment terms directly from Chinese suppliers through credit limits backed by...