China is transitioning its development model, adopting a more domestically focused approach and emphasizing the growth of service consumption, while still prioritizing investments and net exports, said Brazilian economist Livio Ribeiro, a partner at the consultancy BRCG.

In an interview with Xinhua, Ribeiro, who is also a research associate at the Brazilian Institute of Economics of the Getúlio Vargas Foundation (FGV/IBRE), highlighted that the structural shift in the Chinese economy opens a wide range of opportunities not only for Brazil and Latin America, but also for all countries that maintain trade relations with this Asian nation.

"The way we do business with China is evolving (...) Its size and demand make it a key player with infinite possibilities in trade, investment, and financing," he stated.

Additionally, Ribeiro, one of Brazil's leading experts on the Chinese economy, emphasized China's economic and geo-economic characteristics, noting that its enormous investment capacity and strong state support for enterprises make its development model highly efficient.

(Source: Xinhua Portuguese, on March 4)