China OVERTAKES the US as Brazil's Largest Trading Partner
 

China OVERTAKES the US as Brazil's Largest Trading Partner

China has become Brazil's most-important trading partner, disrupting a relationship between the United States and the Latin country that stretches back to the 1930s.

By Malcolm Moore in Shanghai
Last Updated: 6:28PM BST 09 May 2009

Welber Barral, the Brazilian trade minister, said total trade between Brazil and China had amounted to $3.2bn (£2.14bn) in April, representing a near twelve-fold increase since 2001.

The sum was greater than the $2.8 billion of imports and exports to the US and represented the second consecutive month that China had topped the trade table.

"It is a historic moment," he said, adding that he expected China to remain in pole position for the rest of the year because its economy is still growing healthily. "China is now a platinum account [for Brazil]," said Douglas Smith, a Latin American economist for Standard Chartered bank.

Article continues: http://www.telegraph.co.uk/finance/e...g-partner.html

Re: China OVERTAKES the US as Brazil's Largest Trading Partner
 

Hi peaceandlove,

It's also interesting to note that President Lula wants to trade using the Brazilian Real and Chinese Wuan, cutting out the need to use US$.

I think the time is shortly coming where some 'developing' countries will become the new superpowers and the present superpowers will have to humble themselves to get through the rough patch. Let's see what happens.

Best regards,

Steve

Re: China OVERTAKES the US as Brazil's Largest Trading Partner
 

Hi Steve,

Here, we go...more ultimatums!

Brazil and China eye plan to axe dollar
By Jonathan Wheatley in São Paulo
Published: May 18 2009 18:24 | Last updated: May 18 2009 23:31

Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides to Luiz Inácio Lula da Silva, Brazil’s president.

The move follows recent Chinese challenges to the status of the dollar as the world’s leading international currency.

Article link: http://www.ft.com/cms/s/996b1af8-43c...nclick_check=1

Looking for another link to this article that doesn't require a person to subscribe like Financial Times.

Here's another link: http://www.truthabouttrade.org/conte...31/54/lang,en/

SOURCE: http://solari.com/blog/

Re: China OVERTAKES the US as Brazil's Largest Trading Partner
 

Hi peaceandlove,

It's amazing how the mainstream media is so far behind in what's going down.
I saw on the TV today and yesterday comments on the deal being brokered by China and Brazil to use their own currencies for common trade.

I posted about this ages ago and the idea is not a new one, Brazil already does this with Argentina and other Latin American countries:

http://www.projectavalon.net/forum/s...ad.php?t=12804

This has been in the pipeline for some time and only now the press want to say something. :(

Best regards,

Steve