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Whereas China is Brazil’s major buying and selling associate by a mile, the portfolio of Brazilian exports to the Asian large revolves primarily round oil, iron ore, and soybeans. This leaves the nation gravely uncovered to any hiccups within the Chinese language financial system, akin to those brought on by Beijing’s zero-Covid coverage which has positioned tens of tens of millions of individuals beneath strict lockdown and once more imposed a kind of stranglehold on the worldwide financial system.
Brazil’s exports to China rose from USD 2 billion in 2001 to USD 87.7 billion in 2021, per the Economic system Ministry. Commodities account for the lion’s share of…
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