Brazil to Focus on 'Trade Defense' in Ties with China

[Lankan Ranger]

Brazil to Focus on 'Trade Defense' in Ties with China

Brazil's newly-inaugurated President Dilma Rousseff is going to focus on trade and currency policies in her ties with China, according to Brazilian Trade Minister Fernando Pimentel.

Brazil's President, the daughter of a Bulgarian immigrant, will raise the so called "trade defense" and "currency war" issues during a visit to China in April 2011 for a summit of BRIC, a grouping of the major developing economics – Brazil, Russia, India, and China, Pimentel told Bloomberg in an interview.

"Exchange rate and trade defense will be priority issues with China. This is an issue not only for Brazil but for all emerging countries," Pimentel said as the Brazilian real has appreciated gaining weight against the Chinese yuan, thus affecting Brazilian exporters and industries.

In 2010, Brazil's imports from China grew by 60%, reaching USD 25.6 B, while its exports to China grew by 46%, reaching USD 30.8 B.

The surge in Chinese imports, boosted by the yuan's competitive exchange rate, threatens Brazilian manufacturers and has "important implications" for the country's industrial development, said a report of the Brazilian state development bank cited by Bloomberg. The real's gain against the yuan since 2008 is the third-best performance among major currencies tracked by Bloomberg after the Australian dollar and South African rand.

On Tuesday, the Brazilian currency reached its strongest level vis-a-vis the US dollar since September 2008.

Pimentel also said that Rousseff established as a priority tax cuts for industries that are more sensitive to exchange rate and protectionist measures.

Brazil's 2010 foreign trade surplus declined by 20% - with exports rising from USD 128 B to USD 182 B, and imports from USD 153 B to USD 202 B as the real appreciated 5.1% against the US dollar. Brazil's government expects the country's exports to reach USD 228 B in 2011.

Bulgaria: Rousseff to Focus on 'Trade Defense' in Ties with China - Novinite.com - Sofia News Agency

 

[somebozo]

Its simple..brazil should learn to be competitive as well..we had a cooking range made in brazil and it was something of horrible quality I have ever come across!

 

[ao333]

Its simple..brazil should learn to be competitive as well..we had a cooking range made in brazil and it was something of horrible quality I have ever come across!

Latin American goods are all of China Quality, lol. Maybe even a tiny bit worse.

 

[below_freezing]

Latin American goods are all of China Quality, lol. Maybe even a tiny bit worse.

Why are you comparing countries with average IQs in the 80's to the country with the highest number of high IQ persons in the world? You realize that the computer you are typing on at this moment is manufactured in China of Chinese components, right?

 

[scuthan]

Why are you comparing countries with average IQs in the 80's to the country with the highest number of high IQ persons in the world? You realize that the computer you are typing on at this moment is manufactured in China of Chinese components, right?

buyao zai kangkoubikou IQ le. Ni zheyang zhihui rang ni ziji he zheli suoyou de zhongguoren nankan. Bieren hui renwei zhonguoren doushi elie de zhongzuzhuzhizhe.

 

[ao333]

Why are you comparing countries with average IQs in the 80's to the country with the highest number of high IQ persons in the world? You realize that the computer you are typing on at this moment is manufactured in China of Chinese components, right?

Not really, except for the case. My CPU says "Made in US," my mobo says "Made in Taiwan," my graphics card says "Assembled in China," and my memory says "Manufactured in Korea."

You guys seriously got nothing in semiconductor.