|Brazil - A Land of Natural Beauty|
China runs rings around the U.S.
- China abandons Communism for Mussolini style Fascism. A dictatorial government works hand-in-hand with corporations to expand their economy.
(Agence France-Presse) - Chinese Premier Li Keqiang lifted the wraps Tuesday on a multibillion-dollar series of trade and investment deals with Brazil, as Beijing looks to invest $53 billion in South America's largest economy.
The news unveiled at the start of Li's first official visit to Latin America is a huge boon for Brazil as it endures a fifth straight year of low growth after a period of rapid expansion fueled by Asian demand for commodities that has since slowed.
Li's host, President Dilma Rousseff, hopes Brazil can direct Chinese cash to overhaul decaying infrastructure as the country's tourist magnet Rio de Janeiro prepares to host South America's first ever Olympics next year.
Headlining 35 deals on Li's first official visit to Latin America were a pair of finance and cooperation agreements worth $7 billion for Brazil's state-owned oil firm Petrobras.
|China's Prime Minister Li Keqiang (L) and Brazilian President |
Dilma Rousseff smile during the signing of agreements at the Planalto
Palace in Brasilia on May 19, 2015 (AFP Photo/Evaristo Sa)
Rousseff, who will make a state visit next year to China, spoke of a "new intensity in our relations."
"China and Brazil are playing a leading role in the construction of a new global order," she added.
Despite a multibillion-dollar kickbacks scandal battering its reputation as Brazil's flagship company, Petrobras had earlier this year received another Beijing boost in signing a $3.5 billion financing deal with the China Investment Bank.
Li's tour, aimed at underpinning growing Chinese influence in Latin America, comes just days after Beijing signed accords worth $25 billion and $22 billion respectively with fellow BRICS developing nations Russia. But the Brazil package is worth more than those combined.
Brasilia and Beijing also finalized a $1.3 billion accord to sell 22 Brazilian Embraer commercial jets to China's Tianjin Airlines, Embraer said.
Trade between China and Latin America as a whole exploded from barely $10 billion in 2000 to $255.5 billion in 2012.
Sino-Brazilian trade mushroomed from $6.5 billion in 2003 to $83.3 billion in 2012.Read More . . . .
|I can't imagine what China sees in Brazil.|
|If there is a better use for the Brazilian |
flag I can't think of it.