Brazil signs lucrative deals with China.

President Lula da Silva announced the recognition by Brazil of the Chinese status as a market economy,’’ Hu said after the meeting in the presidential Planalto Palace. ‘‘I wanted to express my thanks for that recognition.’’

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 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. The recognition came after China yesterday agreed to sign two accords that will increase its imports of Brazilian chicken and beef, two of the most important objectives Brazil was after.

‘‘Several bilateral agreements have been signed in areas that include trade, industry, organized crime, science, technology, energy and tourism,’’ Lula said in a brief statement delivered after meeting with Hu.

MercoPress

western hemisphere...?

the rest of the world is quietly writing us off, and with good reason.

:eyes:

that`s in play now. China pays Brazil with walmart dollars-Brazil holds more walmart dollars..hmmm interesting isn`t it? little known fact-South Africa is one of the financial hubs of the world- i mail financial journals around the world and South Africa receives more than any financial market in the southern hemisphere