Ipads, Iphones, & Ipads To Be Built in Brazil

Fortaleza October 27, 2011- It is hardly news that record flows of foreign direct  investment is coming into Brazil from China. The vast majority of it from state-owned companies. The list totals US$ 35.75B in 2010 and more than US$ 50B year to date in 2011, an all-time record.

Latest to join the fray, billionaire Eike Batista, Brazil´s wealthiest man is now joining forces with Foxconn, the Taiwanese electronics manufacture who builds iPads, iPods, iPhones and the like under license from apple.  Foxconn will open its Brazilian factory and begin production of iPads here in December, in an investment that will top US$12 B all-in.

Add to the list Chinese automakers Chery and Jac both of whom have opened or are about to open factories here. Chinese energy firm Sinopec, investing US$ 7B in Repsol´s Brazilian operations, Chinese Sinochem, investing US$ 3B to purchase a 40%interest in Norwegian Statoil´s Peregrino field.

Sany, a Chinese producer of heavy machinery has announced that it is building a factory in Brazil to produce its equipment.

What is news is that these “Chinese” products will not be imported but are being, or will be produced here in Brazil, injecting Billions into the permanent capital structure. These companies, these factories, these jobs are here to stay once up and running, putting to rest the idea that the recent Brazilian “growth spurt” is a bubble-like phenomenon.

special to Homes Go Fast by Steven Glazer, Fortaleza

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