China is ever so slowly using its enormous economic power to expand its influence in east Asia.

(Bloomberg) -- China’s central bank said it’s in talks to sign more currency-swap agreements to bolster international trade, after sealing six such accords since November 2008.

The People’s Bank of China has set up 650 billion yuan ($95 billion) worth of swaps to provide short-term liquidity, according to a statement today on its Web site. The central bank said the funding will promote bilateral trade and direct investment by allowing one country to pay for imports in another nation’s currency.
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