Better ties with China expected by Brazil in trade, investment

Better ties with China expected by Brazil in trade, investment

With Michel Temer sworn in as Acting President of Brazil on May 12, a new slew of tough incentives are expected to be hammered out to restore the sagging economy to growth, among which the trade and investment ties with China are widely thought by economists and experts as a pivotal support.

(Soundbite) Cristovam Buarque, Senator
“Brazil and China enjoy a long time of friendship which maintains a healthy development. Our foreign ministry has very good relationship with its Chinese counterpart. From this point of view, I think the new government will not turn the ties worse, but only better.”

The bilateral trade between China and Brazil stood at 86.67 billion U.S. dollars in 2014, with China as Brazil’s largest export destination and import source.

(Soundbite) Hélio José, Senator
“We are waiting everything to return normal for politics as well as economy. If so, there will be sustainable growth in the fields where Chinese investment converges, like infrastructure.”

China used to purchase large volumes of raw materials from Brazil and invests a lot in its infrstructure, like hydro-electronic facilities and automobile production.

(Soundbite) Ronnie Lins, Director of Center of China-Brazil Research and Business
“All manufacturing industries should be prepared for changes. I think this is a good opportunity, as China, India and Russia have technological advantages. Information exchange can benefit all the countries, especially in the fields of technology and trade.”

Both members of the BRICS group, China and Brazil are destined to share much.

(Soundbite) Hélio José, Senator
“China is the most important economic body of the world, with huge investment in Brazil. Brazil is very much interested in enhancing its trade with China. Officials including our foreign minister will dedicate themselves to tap our trade ties with BRICS countries.”

(Soundbite) Cristovam Buarque, Senator
“If Brazil wants to catch up with China, it should reform its education. It can lift us into an innovative country to rhythm with the current development of the world, which is guided by knowledge in an economic sense.”

The Chinese people developing their careers in Brazil also have more to weigh in.

(Soundbite) Wang Jingyang, Director of China-Brazil Exchange Association
“The new government will carry out new policies, which should be better. With Michel Temer becoming Acting President and the Cabinet totally reshuffled, we Chinese people expect more chances, so long as the political and financial situation is stable.”

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