Watch out America! China invades South America with epic trade deal
By Catholic Online (NEWS CONSORTIUM)
7/18/2014 (2 years ago)
Catholic Online (www.catholic.org)
China is expanding its trade partnership with Brazil, with a $7.5 billion financing agreement with Brazilian miner Vale, the purchase of 60 passenger jets from Brazilian plane maker Embraer, and renewed commitment to invest in Brazil's infrastructure.
Brazil is one of the countries that is seeing a massive economic boom, and has made major deals with China in the last few years.
LOS ANGELES, CA (Catholic Online) - Top among all these agreements, was the signing of an accord by Chinese President Xi Jinping and Brazilian President Dilma Rousseff in which the two nations agreed to team up to build railways to help Brazil reduce its infrastructure deficient and feed China's hunger for commodities.
One potential project would be the building of a railway from Brazil's Atlantic coast through the Andes mountains to Peru and the Pacific, which could cut the cost of shipping Brazil's grain to China by $30 per ton, a senior Brazilian official said.
Trade between these two countries soared to $83.3 billion in 2013, up from just $3.2 billion in 2002. Iron ore, soy and oil make up the bulk of Brazil's exports, and China is that nation's biggest trade partner.
"China's two main strategic concerns are energy security and food security. Brazil is an ideal partner on both counts," said the Brazilian official.
This is part of a deepening financial network between China and Brazil. The China Construction Bank formalized the acquisition of 72% of Brazil's mid-size lender Banco Industrial e Comercial SA, a $1.62 billion deal agreed to back in October 2013.
Another Chinese company, Eximbank, extended a three-year, $5 billion credit line to Vale, to buy ships and equipment from Chinese companies. Vale is the world's largest exporter of iron ore and ships the vast majority of its production to China.
For years China has made promises to invest in Brazil, but delivered little on that promise until recently. But the pace of investment could pick up again with new Chinese focus on Brazil's deficient infrastructure.
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for APRIL 2017
Young People. That young people may respond generously to their vocations and seriously consider offering themselves to God in the priesthood or consecrated life.
The Archbishop of Caracas in Venezuela has been attacked by a government paramilitary group. The Chavistas attacked the Archbishop while he ... continue reading
Dramatic discovery reveals the experts are wrong, the Americas were populated by boat, just as many Native Americans explain Watch
For decades, the prevailing hypothesis for the populating of the Americas is that people crossed the Bearing Strait land bridge and ... continue reading
An AP investigation revealed peacekeepers sexually exploited children as young as 12-years-old in Haiti. LOS ANGELES, CA (Catholic Online) ... continue reading
A lethal mudslide hit Colombia Sunday morning, devastating much of a southern city. LOS ANGELES, CA (Catholic Online) - The massive slide ... continue reading
Many abortion activists have been attempting to shame pro-life supporters by claiming they are hypocrites, but one March for Life group ... continue reading
by Catholic Online
- St. Padre Pio appears in U.S. on 130th birthday anniversary HD Video
- Lesbian Nuns?! Hollywood director to create smut film disgracing ...
- St. Athanasius HD Video
- Pope Francis refuses bulletproof popemobile during Egyptian papal visit
- St. Peter Chanel: Saint of the Day for Friday, April 28, 2017
- Daily Readings for Friday, April 28, 2017
- Irish priest's healing prayers offer MIRACLES - But who is he?
- Daily Reading for Saturday, April 29th, 2017 HD
- Day 7 - Novena for Workers, the Unemployed and Underemployed HD
- Pope Francis surprises with TED Talk appearance and powerful message HD
- Daily Reading for Friday, April 28th, 2017 HD
Copyright 2017 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2017 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.