Vitoria Saddi shares her analysis of the latest news to emerge from this weeks meetings between Brazilian President Lula da Silva and Chinese President Hu Jintao. If you have not already checked out Victoria's site, Latin America and Brazil, I highly recommend you do.
In our view, this is an important step towards convertibility. Clearly, the country can afford to have a convertible currency because it has a healthy balance of payments and the government has been taking steps towards convertibility.
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