Until mid-May, bullion dealers could place gold importorders with a designated bank by paying a margin upfront and the rest on delivery, but a new rule stipulates they pay the entire amount before importing.
And if Petrobras ever does utilize the loan facilities provided by the Export Import Bank, it is good for US companies who will get orders for goods and services, and good for Petrobras who will use those goods and services to pump out more oil for Brazil, and the world.
At the giant China import-export fair in Guangzhou this week almost everyone I spoke to said orders from Europe are falling and that's hurting China's exporters.