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China-Brazil infrastructure ties help both sides: academic

Co-operation between China and Brazil on infrastructure is mutually beneficial and should be further strengthened, said a Chinese scholar on a visit to Brazil, according to a report on Saturday by Chinese state-run news agency Xinhua.

Xie Wenze of the Chinese Academy of Social Sciences, said: “The Brazilian Government can count on infrastructure investment as a way to overcome the current economic recession, and promote economic and social development.”

A 1 percentage point increase in infrastructure investment in Brazil can boost that nation’s gross domestic product by about 0.6 percentage points, he estimated.

A recent survey of analysts conducted by Brazil’s central bank suggested the economy of the South American nation would contract by 2.8 percent this year, after declining 3.7 percent last year.

China regards infrastructure co-operation as a key to developing bilateral ties, Mr Xie noted.