Oil Cos. Agree on $1B Gas Pipeline Deal (Brazil and China)

BRASILIA, Brazil - Brazil recognized China as a market economy on Friday, a move that should make it easier for the two countries to do business. Brazilian oil giant Petrobras (news - web sites) and China Petroleum and Chemical Corp. also agreed on a $1 billion deal to construct a natural gas pipeline.

Besides Brazil, China has so far received recognition as a market economy from at least 20 other countries, mostly developing nations. China entered the World Trade Organization (news - web sites) in 2001 as a non-market economy.


Chinese diplomacy had eagerly sought that recognition, which makes it more difficult for China's trading partners to impose penalties on dumping of Chinese exports.

http://story.news.yahoo.com/news?tmpl=story&cid=509&ncid=721&e=10&u=/ap/20041112/ap_on_bi_ge/brazil_china

Bush is still figuring out how to tie his shoelaces and the world is entirely realigning to live without us.

I should be happy for them but I just feel scared. And unprotected.

Did he even try to make an appointment?

Although Lula has always been extremely courteous, the depths of the contempt for * here in Brazil by the people are truly astronomical.

I read somewhere he's entertaining the notion of coming here for a leisure visit in Carnaval. I'd LOVE to see that. My creativity in designing protest signs needs a field test. :evilgrin:

I think I also read this week that Brazil and China signed a huge deal for soybean exports (Brazil to China).

pipeline deal. We are so screwed.... so damn screwed. They fiddle while Rome burns.

Iran has the largest reserves of natural gas. China has the fastest growing economy and an even faster growing need for energy. I don't think it's a coinkidink that all of these deals they're doing have to do with oil and gas. In a way, they need it more than we do.

.

Same time Bush is in Colombia.

Editorial in India Daily this week says Putin is building an alliance of Russia, China, India and Brazil to counter the US:

http://www.indiadaily.com/editorial/11-10-04.asp

Come January, 2008, will the next Democratic President prostrate him- or herself to the rest of the security council and beg for mercy?

Really, it is the possibility that the entire world will line up against us economically rather than the culture gap that makes me long for union with Canada! Just kidding.