Vale announces billion in new domestic investments

[Johnnny]

Mineweb - POLITICAL ECONOMY - Vale announces billion in new domestic investments

The move comes after months of government criticism about a lack of involvement in the Brazilian economy.

Mining giant Vale on Wednesday announced billions of dollars in new domestic investments after months of government criticism that the company was not doing enough for Brazil's economy.
Vale (VALE.N: Quote)(VALE5.SA: Quote), the world's largest iron ore producer, said it would invest 9.5 billion reais, or $5.6 billion, by 2015 to boost production capacity of iron projects in the mining state of Minas Gerais.
The move followed repeated attacks by President Luiz Inacio Lula da Silva that Vale was not investing enough in Brazil, highlighting a falling out between Lula and the leadership of a company he once lauded as a model for the country.

i wonder if our government grew some balls and attacked Vale with words would they go back to the bargaining tables. Oh wait they paid our government off

 

[tay]

Brazil thinks it’s being colonized by China, and wants its economy back




The friction is building. The Chinese acquisition (in a consortium with two European oil companies) of Brazil’s biggest oilfield sparked violent demonstrations in Rio de Janeiro at the end of October. +



It’s a similar problem to what China has faced from investing in sub-Saharan Africa, says Derek Scissors of the American Enterprise Institute, a think tank. “What happens is you start getting people saying ‘Wait a minute, we are running a huge trade deficit with China. They are investing $20 billion and grabbing up all our resources. Are we a colony?’” Scissors told Reuters.


On first glance, it might appear that Brazil is ahead, since the country runs a trade surplus with China. But some 80% of Brazil’s China exports still come from three commodities: iron ore, oil and soy. China, meanwhile, has expanded the range of products and services it exports to Brazil. Lack of growth for Brazilian manufacturers is hurting their competitiveness; one study shows they’ve lost share to Chinese ones (pdf, p.19) in other markets.


more

Brazil thinks it’s being colonized by China, and wants its economy back – Quartz

 

[damngrumpy]

Any company that stands up to these international parasites is doing the right thing.
In Canada we need to stop grovelling at the feet of the corporations and demonstrate
the government makes the rules on behalf of the people. Yes we need investors.
Yes companies need to make a profit. And yes our government and the governments
of other nations need to demonstrate who is in charge.

 

[petros]

Any company that stands up to these international parasites is doing the right thing.
In Canada we need to stop grovelling at the feet of the corporations and demonstrate
the government makes the rules on behalf of the people. Yes we need investors.
Yes companies need to make a profit. And yes our government and the governments
of other nations need to demonstrate who is in charge.

That's funny because we are the Chinese.