China, Brazil Sign Deals at Summit |
| Wall Street Journal - Apr 12, 2011 |
China and Brazil, two of the world's fastest growing economies, announced a handful of commercial agreements on Tuesday—including an order worth up to $1.5 billion for Brazilian aircraft from Chinese companies—at a time when Brazil has become increasingly frustrated with Chinese trade practices.
Economic ties between the countries have become strained in recent months amid complaints by Brazil that China has flooded its markets with cheap goods and has restricted access to its own markets for Brazilian goods other than commodities. This follows rapid expansion in trade between the countries, with total trade tripling in the last five years to $62.6 billion, according to Chinese figures.
Presidents Hu Jintao of China and Dilma Rousseff of Brazil signed a joint statement Tuesday urging deeper cooperation between the emerging powers. The countries also announced a series of commercial agreements, notably the sale of aircraft from Empresa Brasileira de Aeronautica SA, or Embraer, to Chinese companies.
Read Full Article from Wall Street Journal
- Posted: 2011-04-12 11:00:50
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