The developed world may fear China because its cheap labor
and colossal exports threaten to decimate manufacturing
industry and jobs, but Brazilians see the Asian country as an
immense opportunity. Indeed, a great opportunity in Portuguese
is often called - um negócio da
China' - a deal from China'. Brazil's mining
and steel companies are doing well because China's
industrialization has driven up the price of basic raw
materials such as iron ore and steel that Brazil can produce
very cheaply. Demand from China rose 81% last year, allowing
Companhia Vale do Rio Doce
(CVRD), the world's biggest iron ore producer,
to push output to record levels.
Brazil has vast deposits of unusually high-grade iron ore
and has one of the world's most...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.