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.
September 9, 2014
Paula Sambo – Bloomberg, 09/08/2014
Brazil’s real declined the most in emerging markets on speculation voter polls will show increased support for President Dilma Rousseff as she seeks re-election amid a recession and above-target inflation
The real fell 1.1 percent to 2.2675 per U.S. dollar at the close of trade in Sao Paulo, the biggest drop among 24 developing-nation currencies tracked by Bloomberg. Swap rates increased 21 basis points, or 0.21 percentage point, to 11.23 percent on the contract due in January 2020.
The same tracking polls that correctly predicted growing support for opposition candidate Marina Silva are now showing a slight decline in her support, according to a report today by newspaper Folha de Sao Paulo. A new poll by CNT/MDA may be released tomorrow and three others could be released this week. Speculation that Rousseff will lose her bid for re-election amid a faltering economy has helped to push the real up 4.2 percent in 2014, the most inemerging markets.
September 3, 2014
Anthony Boadle and Paul Simao – Reuters, 08/30/2014
Environmentalist Marina Silva unveiled her campaign platform for Brazil’s Oct. 5 presidential election on Friday, boosted by government data that showed the economy had fallen into a recession in the first half of this year.
Following are her main policy proposals aimed at restoring business confidence and investment in Brazil and putting the country on a path to sustainable growth:
ECONOMY: Return to the basic tripod of policies that gave Brazil financial stability a decade and a half ago: fiscal discipline, inflation targeting and a floating exchange rate, ending central bank intervention that has overvalued the real currency.
June 3, 2013
Brazil’s trade surplus shrank to $760 million in May, down 74 percent from a year ago and the smallest surplus for that month in 11 years, Trade Ministry data showed on Monday.
The result was far below market expectations of a $1.8 billion surplus, according to the median forecast of 16 analysts surveyed by Reuters.
A fall in the prices of key commodities such as soy and crude oil have hampered Brazilian exports while the country’s imports are booming.
March 21, 2013
Paulo Winterstein – The Wall Street Journal, 03/21/2013
Brazil and China next week could sign an agreement that allows for trade of up to $30 billion to be carried out in local currencies, Trade Minister Fernando Pimentel said Thursday.
The two countries, which are taking part next week in a meeting with fellow BRICS members–an economic bloc consisting of Brazil, Russia, India, China and South Africa–are also in talks to extend the local-currency trade agreement to the entire bloc, Mr. Pimentel said.
Talks with China are the most advanced, he said, as the two countries already signed last year a memorandum of understanding that allowed for the local-currency trade. Next week, they could make permanent the accord, allowing for local-currency trade in the second half of this year, he said.
March 13, 2013
Thalita Carrico – Financial Times Beyond BRICS, 03/12/2013
If Latin America was a gated community, Brazil and Argentina would be the neighbours that just cannot get along. Argentina would moan that Brazil keeps parking in its driveway and Brazil would complain that Argentina is building too big a fence around its backyard.
But in the real world of the region’s Mercosur trading bloc, things are a tad more complicated than that.
An agreement governing the automotive trade between the neighbours is supposed to result in free trade in the industry from July 1. Instead, Argentina is trying to go into reverse. Most controversially, it wants to force Brazilian carmakers to buy at least some of their parts from Argentina. (Now where could Argentina have learned that tric?)
January 25, 2013
Brazilian and European leaders called on Thursday for the speedy conclusion of a free trade and cooperation agreement between the European Union and Mercosur. The call for action was made as Brazilian President Dilma Rousseff hosted European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso.
Both the EU and Mercosur “expressed the strong political will to reach an accord,” Van Rompuy told reporters.
Negotiations have so far stumbled over differences on agriculture, especially European farm subsidies, which are seen as hindering Mercosur efficient agriculture.