Brazil Trade: Businesses grab opportunities amid China-US dispute

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02:08

Turning to global trade. There are few winners in a trade war. But some countries are seeing opportunities amid the ongoing tensions between China and the United States. Brazil is one of them. Paulo Cabral has more from Sao Paulo.

There's growing Chinese demand for Brazilian soybeans and the price of the crop has risen steeply since May.

It's a clear result here of the trade conflict between China and the United States. As China pulls business from the U.S., it picks up in trade with others, in this case, the world's largest exporter of soybeans, Brazil.

And there's hope among other Brazilian food producers - that China will turn to them, too, to supplement their needs.

The seafood industry is key among them.

EDUARDO NASLAVSKY, PRESIDENT BRAZILIAN ASSOCIATION OF FISHING INDUSTRIES "Of course a big trade dispute like this, between China and the United States, can create opportunities for Brazil. At first, we see an increase in the potential of exporting lobster to the Chinese market."

PAULO CABRAL SAO PAULO "While there are clear opportunities for Brazil to profit in the short term as a result of the trade conflict between China and the United States, there is also concern here - about its wider impact on the global economy. And that could ultimately work against Brazil - and most other nations, too."

JULIANA INHASZ, ECONOMY PROFESSOR INSPER "We have to acknowledge that there is a very negative aspect of this trade war. It will compromise world economic growth. Some countries may feel a benefit now but if we look at the overall situation we notice that at some point there will be a general reduction in the world output. And this can lead to price increases and even inflation."

Paulo Cabral, CGTN, Sao Paulo.