The Lure of the Orient
China has become one of Brazil’s biggest trading
partners, driven by its voracious demand for commodities. Bankers
China is experiencing an industrial revolution and Brazil
has become its supplier of choice for basic commodities,
selling goods like soybeans and iron ore in undreamt of
quantities. In Portuguese, a big deal is often called 'Um
negócio da China and Brazil, years behind
European and US exporters and investors, is piling into China
as if there were no tomorrow. Companies like Companhia Vale do
Rio Doce (CVRD), the worlds biggest iron ore exporter,
Embraer, the worlds fourth aircraft manufacturer, and
even banks like São Paulos Banco Santos have all
identified China as their next great market. Embraer is due to
deliver its first locally-assembled regional jet this
The Chinese economy is surging ahead, growing 9.1% at the
end of the third quarter 2003, leaving Brazil - which has
barely grown this year - in the dust. China has become
Brazils second largest...
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