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Photo Of The Week: This Happened In Brazil

Photo Of The Week: This Happened In Brazil
Anne Sophie Goninet

One year into the coronavirus pandemic, Brazil registered its deadliest month in March. In the 31 days that have just passed, 66,573 people were killed by COVID-19, more than double the previous monthly high. The explosion of cases is largely blamed on the local virus variant, believed to be more contagious, having now pushed Brazil over the 300,000 mark in total coronavirus deaths, second only to the United States with 553,000. Currently, however the U.S. is down to under 1,000 daily deaths while Brazil is more than 3,000.

As hospitals are pushed to the brink, funeral services and cemetery caretakers are also overwhelmed and forced to make hard choices. This week, the Cemitério da Vila Nova Cachoeirinha, São Paulo's second largest cemetery, had to suspend burials due a to lack of graves.

Photographer Dario Oliveira captured, from above, the harrowing sight of workers performing exhumations in order to free graves.

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Economy

How A Xi Jinping Dinner In San Francisco May Have Sealed Mastercard's Arrival In China

The credit giant becomes only the second player after American Express to be allowed to set up a bank card-clearing RMB operation in mainland China.

Photo of a hand holding a phone displaying an Union Pay logo, with a Mastercard VISA logo in the background of the photo.

Mastercard has just been granted a bank card clearing license in China.

Liu Qianshan

-Analysis-

It appears that one of the biggest beneficiaries from Chinese President Xi Jinping's visit to San Francisco was Mastercard.

The U.S. credit card giant has since secured eagerly anticipated approval to expand in China's massive financial sector, having finally obtained long sought approval from China's central bank and financial regulatory authorities to initiate a bank card business in China through its joint venture with its new Chinese partner.

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Through a joint venture in China between Mastercard and China's NetsUnion Clearing Corporation, dubbed Mastercard NUCC, it has officially entered mainland China as an RMB currency clearing organization. It's only the second foreign business of its kind to do so following American Express in 2020.

The Wall Street Journal has reported that the development is linked to Chinese President Xi Jinping's meeting on Nov. 15 with U.S. President Joe Biden in San Francisco, part of a two-day visit that also included dinner that Xi had with U.S. business executives.

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