September 10, 2014
William Mauldin – The Wall Street Journal, 09/09/2014
The outlook for the sluggish global economy can be described as “blah,” but don’t tell that to a bipolar roster of nations with views on their own economies ranging from abject pessimism (think Greece) to an almost religious reverence (China).
In a survey of people in 44 countries, the Pew Research Center noted surprising examples (including Russia and Germany) where the public perception of the nation’s finances vastly diverged from economists’ views and hard data. Below are 10 takeaways from the study, released Tuesday.
Brazil. If the British saw the biggest improvement, Brazil saw the worst meltdown in views toward the economy, with a loss of 27 percentage points from last year. The souring views may play into the hands of Marina Silva, the new Socialist candidate who’s seeing increased support in her bid to unseat President Dilma Rousseff in October. “The mood certainly explains some of the shift in the polls,” said Bruce Stokes, the Pew center’s director of global economic attitudes.
September 9, 2014
Ji Ye (Xinhua) – English.people.cn, 09/09/2014
Brazil needs to develop a strategic vision in order to cooperate with China in a new era, said Marcos Troyjo, a Brazilian economist and co-director of the BRICLab at Columbia University, in a recent exclusive interview with Xinhua.
According to Troyjo, the way China’s economy progressed over past 30 years following thecountry’s reform and opening-up policies is called “China 1.0.”
During that period of time, China took advantage of public-private partnership, cheap workforce and a favorable approach to foreign capital to become the largest manufacturing park in the world. According to Troyjo, China has now entered a new stage, which he calls “China 2.0,” and itshould no longer rely on governmental investment and foreign trade to simulate its economic development.
August 25, 2014
Zhang Fan – China Daily, 8/25/2014
The world is facing overwhelming change and the rise of China is among the key factors, said Marcos Troyjo, a Brazilian economist and co-director of the BRICLab at Columbia University, at a conference hosted by Brazilian law firm Demarest in Sao Paulo on Aug 19.
Troyjo said China has entered a new stage, what he calls “China 2.0″. Compared with the 30 years following the county’s Reform and Opening-up policies of 1978, China can now no longer rely on governmental investment and foreign trade to simulate its economic development.
China 2.0 needs to alter its economic development, reduce overproduction and enlarge its importation, said Troyjo, which could mean great opportunities for Brazilian industries.
August 19, 2014
Kenneth Rapoza – Forbes, 8/18/2014
Chinese diplomats in São Paulo reminded the locals just how important that country is to Brazil. And doesn’t Brazil know it.
Four years ago, China became Brazil’s leading trading partner, surpassing the U.S.. So far this year, Brazilian companies, led by commodities exporters, shipped $28 billion worth of goods to China compared to $20 billion to the U.S.
The two BRIC economies “should further advance current ties to make the partnership a model for interaction between developing countries,” Chinese Consul General Chen Xi reportedly said in São Paulo on Aug. 11 during an event to celebrate the 40th anniversary diplomatic ties between China and Brazil. The ceremony was co-hosted by the City Council of Sao Paulo and the Brazil-China Friendship Association. It was attended by about 200 that included entrepreneurs and Chinese and Brazilian officials, the China Daily reported from Brazil’s biggest city.
August 11, 2014
Natalie Obiko Pearson – Business Report, 8/11/2014
China and Brazil are looking for ways to redirect the global climate debate, which they say unfairly accuses developing nations of delaying limits on fossil-fuel pollution.
China wants to blitz attendees at UN-led climate talks with pamphlets touting the clean energy gains made by the world’s largest emitter of carbon dioxide. Brazil wants more recognition for slowing destruction of the planet’s biggest rainforest.
“We must work on how we sell ourselves better, how we sell our positions to the world,” Francisco Gaetani, Brazil’s Deputy Environment Minister, said in Delhi on Friday with counterparts from China, India and South Africa.
August 11, 2014
Dom Phillips – The Washington Post, 8/9/2014
As relations among Russia, the United States and the European Union deteriorate over the Ukraine crisis, there may be one unexpected winner: Brazil.
On Wednesday, Russian President Vladimir Putin signed a decree banning a list of agricultural products from the United States, the European Union, Canada, Australia and Norway in response to sanctions levied by the West. No sooner had Russia issued the ban than Brazilian producers were lining up to fill the gap.
“Brazil will substantially increase its meat and dairy exports,” Brazilian Agriculture Minister Neri Geller said in a statement.
July 30, 2014
Carlos Eduardo Lins da Silva – Executive editor of Política Externa, Wilson Center Global Fellow
Its initial landing, projected at US$ 3.6 billion a year starting in 2016, will limit the bank’s impact
The sixth summit of the BRICS took place at a time of low economic growth for the group. The BRICS gained prominence after the global financial crisis of 2008, which put the leading capitalist economies on the brink of the abyss and made room for big emerging countries at the decision making table.
The average growth for the five countries in 2014 is expected to be to around 5%, or half of what was recorded eight years ago, with one important difference: unlike 2008, the large economies are now recovering from higher levels of development when compared with the BRICS.
The group made important institutional progress in its sixth summit, held in the Brazilian city of Fortaleza. The event marked the official launching of the New Development Bank. However, it did not elevate the BRICS to an organization capable of substantially influencing global geopolitics and effectively countering the established economic powers or challenging the apparatus they built after World War II to ensure hegemony in the macroeconomic policy decision making. Read the rest of this entry »