Venezuelan President Hugo Chavez said Wednesday that Brazil's economy could surpass that of the United States if the latter continues its slowdown.
Chavez told reporters that he does not want the United States to suffer a recession, but if its economy continues to slow down, "Brazil's economy, currently the biggest in Latin America, could become the biggest in the continent," he said upon his arrival to Brazil's Recife where he will meet with Brazilian President Luiz Inacio Lula da Silva.
As Brazil has a diversified economy, it has not been affected by the U.S. economic downturn, Chavez said, "Brazil broke away from the dependence on the United States."
"A deep (U.S. economic) recession could affect us, but we have our own economic defense mechanisms," he said.
Lula and Chavez will visit the binational refinery works that Brazilian state oil enterprise Petrobras began last September. Venezuelan state oil enterprise Petroleos de Venezuela (PDVSA) will become an associate of the project in the future.
Chavez will also discuss energy issues with his Brazilian counterpart during the visit.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article