Brazil did not enjoy the globalization process that started in the 1980s to its fullest potential. Still, it may have a second chance now amid the current de-globalization process – essentially an adjustment of globalization.
Chinese President Xi Jinping told Brazilian Lower House Speaker Arthur Lira in Beijing Friday that their countries should firmly support each other in the face of a tumultuous world. Xi also insisted the BRICS partners were the two largest developing nations on the planet.
The blue (a euphemism for black market) dollar plunged on Wednesday, closing at AR$ 885/905 (buy/sell), down from AR$ 985 the previous day, after the extension of the swap with China was announced and raids on illegal exchange parlors known as cuevas (caves) intensified, leading to new arrests, it was reported in Buenos Aires.
Argentine President Alberto Fernández met with the head of the New Development Bank (NDB), Dilma Rousseff, to advance the South American country's accession to the BRICS financial institution.
Various members of the Chilean delegation touring China ahead of the III Forum of the Belt and Road International Cooperation have tested positive for Covid-19 although President Gabriel Boric Font's results came back negative. All those infected will begin a 5-day isolation as per Chilean sanitary protocols, it was reported.
Argentine President Alberto Fernández held meetings in Shanghai with businessmen and local authorities ahead of his participation at the Third Belt and Road Forum to which he was invited by Chinese leader Xi Jinping.
Argentine President Alberto Fernández landed in Shanghai during the weekend on a Chinese tour during which he is to meet with his local colleague Xi Jinping as well as with New Development Bank (NBD - also known as the BRICS bank) CEO Dilma Rousseff.
The World Bank cut its economic growth forecast for China for 2024, citing continued difficulties in the domestic market including the property crisis and a fading rebound from the re-opening this year.
Trading of shares in Chinese property giant Evergrande and its two subsidiaries was suspended in Hong Kong on Thursday. A market statement on the Hong Kong Stock Exchange did not explain why trading in Evergrande Group's securities, and share certificates of Evergrande Property Services Group and Evergrande Electric Vehicle Group was halted.
The Argentine administration of President Alberto Fernández Saturday expressed its gratitude towards the Group of 77 (G77) plus China for its support regarding the South American country's claim over the Falkland/Malvinas Islands.