中国经济放缓 巴西铁矿受挫

Now there is perhaps no more important commodity to Brazil's economy than iron ore. The world need it to make steel. China has been taking as much as Brazil can produce until now. Brazil's Vale is the world's biggest producer of the stuff. It profits and its profits and revenue have fallen sharply last year, and so did Brazil's economy. Yes, if China sneezes, Brazil catches a cold, right? "Wrong!", says José Carlos Martins. He's head of iron ore at Vale.

"It's true that China economy is cooling off, but it's not true it's a problem for us, because demand for the steel and iron ore in China continues to grow. So if you look our figures 2008, which was the booming year, we're now selling more than we used to sell in 2008, revenues and volumes as well. So I think crisis is not the real story behind this. I think you have different patterns in different countries and different businesses. And iron ore in my view is doing very well."

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