Lula Wants Brazil to Be More Like China and Says Dollar Will Be Left Alone

Brazilian companies have to increase their productive capacity to compete internationally with rivals such as the Chinese. This assessment was voiced today by Brazil’s President Luiz Inácio Lula da Silva in a collective radio interview.

Lula affirmed that various productive sectors, including the shoe industry, have faced difficulties in the dispute for foreign markets.

"Brazil produces 900 million pairs of shoes annually and is the world’s second biggest manufacturer. China makes 9 billion pairs of shoes," he observed by way of comparison.

The president pointed out that the government has taken steps to level the playing field for Brazilian companies. One of these steps was to recognize China as a market economy.

As a result of this recognition, Lula explained, Chinese trade decisions can be contested in the World Trade Organization (WTO).

He went on to say that the government has also given a hand domestically by raising duties on certain imported products.

Regarding the government’s exchange rate policy, Lula said that there will not be any artificial alterations to cause the dollar to fall.

"We will not devalue the dollar by government decree," he affirmed. "We will strive for it to reach the desired level, a level at which it can attain stability."

Agência Brasil



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