But Rodrigo Maciel, the executive secretary of the Brazil-China Business Council, says many Brazilian companies are now raising capital from Chinese firms and bringing in Chinese managerial and technical expertise.
“China is becoming a big investor in Brazil. It invested more than $2 billion in the mining industry in the first three months of the year. That is a lot of money, and it is very important. Those investments will elevate the relationship and make it more serious,” says Mr. Maciel, who just returned from a 35-day trip to China where he was helping to broker business deals.
Maciel also helped organize two summits for this week where 75 Chinese companies are meeting with almost 300 Brazilian business leaders to discuss future opportunities. “Many business people understand that China is a potentially massive investor and they are going there to look for partners.”
According to O Estado de São Paulo, a leading Brazilian newspaper, Chinese companies may invest in Brazil’s vast oil industry and get involved in the construction of a multi-billion dollar high-speed train between Rio de Janeiro, São Paulo, and Campinas.