10 April 2011

BRASIL / CHINA : Dilma To Lobby Beijing Hard...On Trade And Currency.

BLOOMBERG/ A. Soliani and M. Bristow

     President Dilma Rousseff has been more outspoken than predecessor Lula da Silva (pictured above) on trade and currency inequalities with China.
   She reportedly plans to begin to pressure President Hu Jintao (pictured below) and Chinese officials to buy more than raw materials, like iron ore from giant Vale in her first visit to Beijing.
    In 2010, iron ore and soybeans were 83.7% of Brasil’s sales to China...up from 68.2 % in 2000.
    Rousseff wants to sell China airplanes, processed foods and value-added goods.
   A former trade official says:“... we need to iron out distortions in the trade relationship, in which Brasil sells commodities and China manufactures. Dilma’s visit is a great opportunity.”