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2008 financial crisis makes China, Brazil closer: Brazilian expert

Xinhua, June 20, 2015 Adjust font size:

The 2008 international financial crisis brought Brazil and China closer and the two countries have many positions in common, a Brazilian expert has said.

In a workshop on China-Brazil relationship organized recently by the Getulio Vargas Foundation (FGV), a renowned college and public policy think tank in Brazil, Professor Lia Valls, researcher of FGV, traced the history of the relations between Brazil and China.

In her opinion, it was in 2008 that the two nations became really close, when the international financial crisis put emerging economies like Brazil and China under the spotlight.

From then on, Valls said, the Brazil-China relations got stronger, and the BRICS group, which was still BRIC then, as South Africa had not joined, started to play a more important role in the global arena.

In 2009, China became Brazil's largest trade partner, a position which has been maintained so far. Brazil is a large commodities exporter, and its commodities export constitutes a large portion of Brazil's exports to China, she said.

Valls said that China's "new normal" presents opportunities for Brazil in sectors such as food products, renewable energies and services. Endi