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48th World Economic Forum Annual Meeting 48th World Economic Forum Annual Meeting

Brazil and China Celebrate Successful Reforms

At the 48th World Economic Forum Annual Meeting which took place on January 23-26 in Switzerland, under the theme Creating a Shared Future in a Fractured World, Michel Temer, president, Brazil, discussed Brazil’s economy has roared back to life.

Temer noted that inflation had been brought under control and now stood at under three percent. Interest rates have fallen from 14.5 percent to below seven percent, and foreign direct investment rose in 2017 to USD64 billion. Temer also highlighted the steps taken to further integrate Brazil into the global economy.

Similar themes of commitment to deepened global integration were sounded by Liu He, general office director, financial and economic affairs, Central Leading Group, China, who affirmed China’s focus on reducing financial risk through regulation of shadow banking, tackling China’s ballooning local debt, and reducing leverage ratios.