Brazils finance minister says the world faces a trade war and a currency war. He said the governments of several countries including the United States and Japan, are allowing the devaluation of their currencies in order to gain markets in countries that are performing well in their domestic economies, as is the case with Brazil.
Mantega said that the next meeting of the G-20 group will lead the authorities to state that the exchange rate management needs to be much more harmonious between its participants. "I think the floating exchange rate system is better, but it must be floating for everybody,".
The minister said that the devaluation of international currencies like the U.S. dollar brings legitimate concerns to Brazilian industries. "There are countries using the currency advantage by pretense. We must preserve the Brazil market," "It's not fair to us that we can keep the market higher and it will be beneficial for other countries."
Mantega stressed that Brazil needs to get tougher on anti-dumping policy to prevent the entry of goods from other countries in a predatory manner to the domestic industry.
He showed that the government will be even more stringent to deter the entry of foreign products entering the country with very low prices, characterizing dumping. "We have to be tougher on anti-dumping policy to prevent unfair competition,".
The minister emphasized that in light of global recession, Brazil is one of the few countries that grow robustly. In this sense, many nations who experience difficulty are trying to sell "at all costs" their products in the Brazilian market. Mantega said the country should have more anti-dumping cases, but said it also depends on local industries, because they are the ones whih must initiate such complaints with the government to the extent that they feel threatened by foreign competitors.
Take the U.S. Lead
The minister highlighted the example of what happens in the U.S. because, he said, so it is formalized anti-dumping proceedings are suspended purchases of companies involved, and automatically imposed sanctions on countries that practiced unfair trade acts
Monday, September 27, 2010
Brazil: Trade Wars and Currency Wars, And Antidumping Wars, Coming
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2010
(1051)
-
▼
September
(105)
- Currency War Options: Straddles and Strangles
- The Yen Rises Again, Will the Bank of Japan Act Ag...
- 1X Versus 2X ETFs
- Meredith Whitney: States to Be Bailed Out Within 1...
- Everyone Claims Profits With AIG Bailout: Next Tim...
- Canadian GDP Contracts
- Brazil, China, and the Low Euro Boost Germany's Em...
- The Stunning Misinformation in Jobless Claims Numbers
- China: Yuan Congress Measure Will Hurt Global Econ...
- Current Global Debts: $39.9T; Each Country's Debt ...
- U.S. Dollar To Depreciate Further
- Moody's to Cut Spain's Rating
- No More Glorious Stock Returns, It's Over, But Fed...
- Brazilian or French Paper?
- Chile, Peru, and Colombia Integrating Their Stock ...
- Shell Finds Oil Off Brazilian Coast
- Brazilian or British Paper?
- China: Sino-phila, and A Consistent Contradiction ...
- Roubini: Trade War Imminent Between China And U.S.
- Fed Buys $0.55B of Treasuries
- LBMA: Gold To Rise to $1,450, Silver to $24
- RIM Tablet Playbook: Take That Apple!
- FSA: One Third of Takeover Announcements Are Leake...
- POMO is The Reason Why Markets Are Going Up. "Equi...
- Brazil: Trade Wars and Currency Wars, And Antidump...
- Brazil's Stocks Free and Set To Rise With PBR's IPO
- Latest Roubini on Prospects for the U.S., Japan, C...
- Is Gold Really at A Record High? Not in Other Curr...
- Bank of Japan Overnight Intervention Fails Miserably
- Gold $1,300.00
- World's Largest IPO Raises USD $70B: A Fresh Success
- Today's Hottests, and Coldests, ETFs
- New Food Crisis, Repeat Of 2008: Wheat, Corn to Soar
- CIBC Drastically Cuts U.S. and Canadian Outlook fo...
- Profitting From Wild Currencies Racing to the Bottom
- Dropping USD = Oil Higher, For How Long? Straddles
- Chanos: China is the Next Enron
- Gold Reaches New Record High on Fed's Money Printi...
- USD Collapsing On Fed Promise to Print Money Till ...
- Fed Says Its Mandate Is to Inflate: Gold and Euro ...
- The 20 Largest ETFs on the Market; GLD Now 2nd
- Apple: One Hugely Overbought Company.
- The Top 25 Performing ETFs: Where the Money is Going
- Great Versus Bad ETF Model Portfolios
- Gold Keeps Going Higher and Higher: Analysis
- Yuan Rockets Higher
- Brazil's Inflation Spikes, SWF Very Ready to Act o...
- Silver Outshines Gold: ETFs
- Brazil Surpasses 189M Cell Phone Subscribers, 97.9...
- Bears Put in Endangered Species List; Bulls in Orgy
- Portuguese and Irish Yields Jump To New Record High
- Fed to Cut Forecast, Europe Bailout is Failing
- Roubini Says Fed Is Out of Ammo, What U.S. Needs I...
- Oracle Hits 9-Year High
- Is Google Getting Too Big?
- Top Performer Currency ETF: BZF (Brazil)
- US, Europe, and Asia All Want Their Currencies Dev...
- Yen Yuan: Currencies Again, Yuan Rises to Highest ...
- Natural Gas Hurricanes: Karl, Igor, and Julia
- Upcoming Currency Wars Are Prime For Speculation
- The BoJ Selling the Yen by the Trillions: FXY Stra...
- Global Warming To Make Canada a Major Powerhouse
- Pimco Betting Against Deflation, Really?
- Currency Chaos II: Bank Of Japan Intervenes to Dro...
- Food: The Coming Famine; It's Peak Food and Water ...
- Yen All-Time High: Profit With FXY ETF Straddles
- Cisco Capitulates and Starts Dividends: No Longer ...
- Gold Soars and Canadian Miners ETF Hits All-Time High
- Yen Keeps Rising, Touches 82.94, 60 Year or All-Ti...
- Further Currency Chaos Expected: Yen Rises to Fres...
- Bonds Lose Big, TLT Straddles Return +44% in 13 Days
- IMF Says "Annus Horribilis", More Stimulus Needed ...
- Lots of New Billions Here and There Needed By Bank...
- Options on Financials ETFs: 1X vs 2X vs 3X
- Banks and Financials Raising More Funds = Leading ...
- Watch Out Below: Banks Raising Capital Means Stock...
- Business Comparison: USA vs Canada vs Brazil vs Chile
- Roubini in Toronto, September 2010: Outlook Has Se...
- September 2010: Canadian Banks Are the Safest in t...
- Apple Finally Clues In: Allows Adobe's Flash Player
- Canadian Dollar Jumps With Hike in Interest Rates:...
- U.S. Economic Growth Revised Down Again: Fed To Ke...
- Castro: Cuban Model No Longer Works, Not for Cuba,...
- ECB: German Banks Are Undercapitalized
- The Latest Unemployment Claims: 9 Nine States Did ...
- Mishkin: Fed Buying Treasuries is A Risky Move
- Beige Book Reports Widespread Signs of Deceleratio...
- Canada Raises Interest Rates Again But Says "Unusu...
- Oil Contango Doubles: Oil To Rise = U.S. Dollar to...
- Yen Drops Slightly Overnight
- The Markets Are Rarely Wrong: Flat GDP For Years t...
- Housing Boom is Over: Short Canada
- Rosenberg: It's a Depression
- Big Troubles Ahead: Yen Hits 15-Year High, Nears 6...
- European Stress Tests a Sham: Really?
- The Giant Machine That Will Rescue the 33 Miners i...
- The Top 30 Stocks in The S&P 500, To Buy and To Sell
- The Top 20 ETFs for September, To Buy and To Sell
- PBR, Petrobras: Largest Global Share Offer Ever
- This Recovery Vs. Past Recoveries In One Striking ...
-
▼
September
(105)
1 comment:
Further analysis: http://www.soundsandcolours.com/articles/brazil/brazils-currency-wars-a-real-problem/
Post a Comment