Chen Yuan is not a household name even among bankers, but within the arcane world of Communist Party financial planning he is a legend, the man(...)

Indian prime minister Manmohan Singh, Chinese president Xi Jinping, South African president Jacob Zuma, Brazilian president Dilma Rousseff and Russian president Vladimir Putin pose during the fifth Brics Summit in Durban. Photograph Rogan Ward/Reuters

China and Brazil have agreed to establish a currency swap line worth around $30 billion (€23.5bn) in their respective currencies, which they sa(...)