The Rise of the BRICS in the Global Political Economy
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The Rise of the BRICS in the Global Political Economy

Changing Paradigms?

Edited by Vai Io Lo and Mary Hiscock

Taking an interdisciplinary approach, Vai Io Lo and Mary Hiscock, together with scholars and researchers from around the world, investigate the rise of the BRICS and assess the extent of their further development and influence from the perspectives of economics, international relations and law.
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Chapter 6: Sino-Brazilian trade and antidumping concerns

Muruga Perumal Ramaswamy

Extract

The Sino-Brazilian trade relationship in the past decade has generally been hailed as a success story. Although the value and volume of their bilateral trade have clearly increased, there are several concerns facing both sides with the potential to derail the impressive growth thus gained. While the major cause of concern for Brazilian exporters has been the concentration of trade in specific sectors, for their Chinese counterparts it has been the increasing use of trade remedies targeting Chinese imports, in spite of an unusual trade deficit with Brazil. At this juncture, when bilateral trade is experiencing an exponential growth, the tendency has been to ignore or underestimate some of these underlying concerns in the interest of maintaining cordial relations. However, in order to ensure a sustainable long-term growth in bilateral trade, and to maintain a long-lasting trade relationship, it is highly important to identify growing concerns arising from trade between the two countries and address them effectively. In this context, the role of cooperative initiatives between the two countries needs to be re-examined to determine how far they are aimed at tackling the major trade concerns. Although the cooperative initiatives between the two countries have grown beyond bilateral means, for example the cooperation among the BRICS members, their potential to effectively address the underlying concerns is unclear.

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