Explaining Brazil #198: China raises red flags in Brazil

April economic data from China came worse than expected. Given the sheer importance of the Asian giant to Brazil, that is something for President Jair Bolsonaro, who seeks re-election in October, to worry about

China reported horrific economic results in April. Retail sales were down 11 percent from a year earlier, against an expected decline of less than 7 percent.

Car production took a 41-percent nosedive while overall industrial output was down 2.9 percent. Meanwhile, China’s jobless rate rose to 6.1 percent, its highest since the February 2020 peak. The list of poor economic figures just goes on and on and on.

Given the sheer importance of China for Brazilian exporters, any hiccups with the Asian giant can have major implications in Brazil. And it’s not as if Brazil was growing in a buoyant fashion, to begin with … 

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