China may build railways in Brazil

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BRASÍLIA (BDCi) – Chinese President Xi Jinping will be visiting Brazil this week, and Brazil is hoping to boost ties with its biggest trade partner.

China will sign accords when President Xi meets with Brazilian President Dilma Rousseff on Thursday (17) focused on ensuring that raw materials going to China make it to the ports, and railways are on the top of the list.

Brazilian officials portray Xi’s visit as a milestone for Brazil’s manufacturing industry and say that China wants to collaborate to build railways, but analysts say the Chinese have no interest in investing in Latin American manufacturing, especially with Brazil’s high labor costs.

Proposed projects include railway construction to the ports of Ilhéus in Bahia and Itaqui in Maranhão.

 

By: Diego Díaz
Source: Reuters
Photo: Google
17 July 2014
09:25 a.m. P.D.T.

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