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Beijing to the rescue of sliding Brazil: 53bn dollars in trade, finance and investment

Wednesday, May 20th 2015 - 05:44 UTC
Full article 9 comments

Beijing has come to the rescue of Brazil's slumping economy with trade, finance and investment deals worth at least 53 billion dollars in energy, mining, aviation and upgrading of dilapidated infrastructure. Read full article

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  • Briton

    So it seems that China has billions to give away,
    so has she got far to much money,
    or is this a future bubble.

    May 20th, 2015 - 11:36 am - Link - Report abuse 0
  • Brasileiro

    South-South Alliances will isolate the “Five Eyes” at a later stage will destroy the “Five Eyes” economically, technologically, culturally and socially finally.

    Bye bye!

    https://www.youtube.com/watch?v=-D8-oTLvl6Y

    May 20th, 2015 - 11:57 am - Link - Report abuse 0
  • yankeeboy

    This is akin to drowning people hanging onto each other.
    Both will drown

    watch and see

    May 20th, 2015 - 12:25 pm - Link - Report abuse 0
  • LEPRecon

    “Li said Chinese construction and steel companies were ready to help Brazil overhaul its infrastructure to reduce transport costs for the export of Brazilian commodities.”

    So this is basically a case where China is loaning Brazil money to pay Chinese companies. Similar to the deal Argentina struck.

    This is how it goes. China loans Brazil US$53 billion. That US$53 billion goes to Chinese companies, employing Chinese workers, and very little, if any of it, will go to any Brazilian.

    And then Brazil will have to pay back the US$53 billion PLUS interest to the Chinese.

    What a sensible economic plan...for the Chinese at least.

    May 20th, 2015 - 03:39 pm - Link - Report abuse 0
  • Troy Tempest

    4 LEPRecon

    They tried doing that in Canada - “investing” in a mine, but hiring their own “specialised workers”!

    There was such a stink about it that the government quickly scuttled the agreement- and rightly so!!

    May 20th, 2015 - 03:52 pm - Link - Report abuse 0
  • Jack Bauer

    @4 LEPRecon
    “This is how it goes. China loans Brazil US$53 billion. That US$53 billion goes to Chinese companies, employing Chinese workers, and very little, if any of it, will go to any Brazilian.”

    While I agree that the Chinks will try to impose their own work force on Brazil, to benefit themselves along the whole process, I'm pretty sure that the Brazilian worker will not put up with it, even if our corrupt, rotten self-serving government does - which I doubt, specially now that the unemployment rate is increasing daily. Other than key positions, the general work force will have to be made up of Brazilians, otherwise all hell will break loose.

    May 20th, 2015 - 04:19 pm - Link - Report abuse 0
  • Chicureo

    The Gringos in California learned the hard way what it was like with the Chinese. Although the Communists didn't loan the money, the won the contract to re-build the eastern span of the San Francisco-Oakland Bay Bridge for $6.4 billion Dollars, that cost untold millions more in repairs due to very shoddy construction done by the imported Chinese workers.

    Opening up the Chinese market for Brazilian cattle and Embraer jets is wonderful, but in the end the Chinese win-win-win.

    Chile has profited handsomely with our Chinese trade and our relationship is excellent, but we don't need their loan-shark credit either...

    May 20th, 2015 - 10:04 pm - Link - Report abuse 0
  • Heisenbergcontext

    Bad news for Twiggy Forrest. Vale are now undercutting everyone except Rio Tinto.

    May 21st, 2015 - 07:20 am - Link - Report abuse 0
  • Hepatia

    There is a lot of money going into S11D. Also Vale has sold 8 Valemax ships to the PRC. This is a game changer. I'm told by a colleague from Australia that the British are trying to form some sort of OPEC for iron ore.

    Both the Brazilians and the Chinese are showing a keen sense of the future right now. The US needs to ensure that it is not cut out.

    May 22nd, 2015 - 03:35 am - Link - Report abuse 0

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