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China DailySHI YU/CHINA DAILY During Chinese President Xi Jinping's visit to Brazil in November 2024,37 memorandums of understanding were signed with the Brazilian government on cooperation in a wide range of areas. There are many synergies between Brazil and China, particularly related to the New Growth Acceleration Program, specifically in energy and transportation, in which Chinese companies have achieved a high level of expertise. Brazil exports oil, soybeans, iron ore, meat, cotton and other commodities to China, importing mainly intermediate goods used in local industrial processes and non-durable consumer goods and, recently, electric and hybrid cars. The first is that trade with China creates a large surplus used to offset deficits with other countries and keep Brazil's external accounts up to date.
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