China scraps plan to build 5 billion dollars steel plant in Brazil

Tuesday, July 3rd 2012 - 19:05 UTC

Full article 6 comments

A major Chinese steelmaker has scrapped a plan to build a five-billion-dollar factory in Brazil due to high costs and a slump in global prices for the metal, state media said Tuesday. Read full article

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briton
and on the other blogg
Bank of China expands in Brazil following 30bn dollars swap agreement

false impressions,
make ya mind up
Jul 03rd, 2012 - 08:05 pm - Link - Report abuse 0
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slattzzz
all guff mate say want they want to say when they are drinking thier beer soon as they get home scrub that one, only one winner and it aint a country in south america, blind springs to mind, oh well shit happens, I dare say TTT and Bk will think this is wonderful news and socks will be at the ready, blinkered fools I nearly feel sorry for them .............................NOT
Jul 03rd, 2012 - 08:39 pm - Link - Report abuse 0
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Self Determination
China operates in a certain way,they will take your iron ore ,make steel in China using cheap labour .then export finished steel goods undercutting your manufacturing industry.
Its a one way street with China,all they want is food,ore ,minerals and oil.
Jul 03rd, 2012 - 09:12 pm - Link - Report abuse 0
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Condorito
@2 and 3
Brazil is already one of the top 10 steel producers in the world.

“Its a one way street with China”
not if you make good stuff. Germany managed to sell about $90 billion worth of goods to China last year (although they ran a deficit). South Korea runs a healthy surplus with China.

Sure they want raw materials, but they also want Mercedes.
Jul 03rd, 2012 - 09:32 pm - Link - Report abuse 0
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Self Determination
@4
Thats the point, they exploit poorer countries ,and buy BMWs & Mercs with the profits.They also steal and copy technology.They will be building their own BMWs.& Mercs.
South Korea ,use a different economic model to China but dont have strategic expansionist ambitions.
The $20billion dollar deal with Argentina & $30 billion dollar exchange with Brazil is peanuts to China ,beware.
Jul 03rd, 2012 - 10:36 pm - Link - Report abuse 0
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Condorito
@5
I agree re lack of respect for IP rights, but I don't think buying raw materials on the open market is exploitation.

For example, we sell shit loads of copper to China. That demand pushes the price of copper up and is one of the main sources of income to Chile.

If the Chinese start making Mercs it will mean Mercs are more affordable. I don't think this will happen for decades. If it was so easy to replicate German quality, the Japs, French, USA and UK would have been doing it long ago.

Chinese cars are still crap. We have loads of them here in Chile. They have been so poor that the dealerships have stopped guaranteeing parts for them.

Fear not the Chinese. Trade as much as you can with them and sell arms to their neighbours!
Jul 04th, 2012 - 01:38 am - Link - Report abuse 0
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