China Investing Heavily in Brazil
RIO DE JANEIRO - Surging Chinese investment in Brazil is reshaping ties between the countries as companies seek to secure resources and tap the rising consumer class in Latin America's largest economy.
From virtually nowhere, China has rocketed to become the biggest foreign direct investor in Brazil this year with purchases ranging from iron ore mines to vast tracts of farmland and the electricity grid.
Following similar forays in Africa and other parts of the globe, Chinese firms backed by cheap state financing are seeking a permanent foothold in Brazil, aiming to diversify their income and meet Brazil's acute need for new infrastructure.
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