Brazil expects strong bilateral cooperation with China
The Brazilian market expects that a further revival of cooperation between the PRC and the world will give impetus to Sino-Brazilian relations, local media report.
China's economic and social development prospects are currently attracting worldwide attention, as China has streamlined and adjusted its policy response to COVID-19, and the latest GDP growth figures for 2022 are also higher than expected.
China's GDP grew three per cent year-on-year to a record high of 121.02 trillion yuan (about $17.95 trillion) in 2022, data from the National Bureau of Statistics showed.
Brazilian economist Ronnie Lins told to Xinhua News Agency, a partner of TV BRICS that China has taken active measures to minimise the negative impact of the COVID-19 pandemic on the economy and has recently adjusted pandemic prevention policies based on scientific information.
"China's economy is expected to achieve higher growth this year," said Xia Huasheng, a finance expert at Brazil's think tank Getulio Vargas Foundation.
The yuan's recent significant appreciation against the U.S. dollar shows that market demand for the currency has increased and investment by foreign companies in the PRC will rise, Xia said.
Now, Brazilian economists, leading media and market participants believe that the Chinese economy will grow faster and give a boost to Sino-Brazilian cooperation.
Fabio Fares, a macro expert at the onsulting organization Quantzed, explained that companies that do business and export products to Asia will benefit more from the Celestial Empire's economic growth.
Looking to the future, Lins noted that Brazil and China cooperate in many areas and the economic and trade complementarities between the two countries are so strong that there is huge potential for development.
"A golden age of relations between Brazil and China is not far away," the economist said.