随着中国去年一跃成为巴西最大的外国直接投资(FDI)来源国，这个亚洲国家与拉美最大经济体之间的贸易紧张关系预计将会升温。
Analysis of data from Brazil’s central bank shows that China accounted for about $17bn of Brazil’s total FDI inflows in 2010 of $48.46bn, up from less than $300m in 2009, according to Sobeet, a Brazilian think-tank on transnational companies.
巴西研究跨国企业的智囊机构Sobeet对巴西央行数据进行的分析显示：2010年，巴西吸收的FDI流入资金总计为484.6亿美元，其中来自中国的FDI约为170亿美元，较2009年的不到3亿美元大幅增加。
“This is the first time we have had so much investment from China,” Luis Afonso Lima, president of Sobeet, told the Financial Times. Exports of commodities, such as iron ore and the “soya complex” of beans, oil and meal, to China helped to keep Brazil’s economy afloat during the financial crisis.
Sobeet总裁路易斯•阿丰索•利马(Luis Afonso Lima)告诉英国《金融时报》：“这是我们破天荒第一次吸收了这么多来自中国的投资。”向中国出口大宗商品，例如铁矿石和“大豆组合”（豆子、豆油和豆粉），帮助巴西经济安然度过此次金融危机。
However, tensions have surfaced after China last year also emerged as one of the biggest sources of cheap imports into Brazil, helped by a surge in the value of the real, which is undermining the competitiveness of domestic industry.
不过，随着中国去年还成为巴西廉价进口商品的最大来源国之一，两国之间的贸易紧张关系已露出峥嵘。巴西里尔的大幅升值对此起到了推波助澜的作用，因为它损害了巴西国内产业的竞争力。
This prompted Guido Mantega, finance minister, this year to call for a revaluation of the renminbi.
巴西财长吉多•曼特加(Guido Mantega)今年呼吁中国允许人民币升值。
Brazilian newspaper Folha de S.Paulo last week reported that the government was considering restrictions on FDI in mining, including imposing minimum domestic supply quotas and screening transactions based on “the investor’s profile”.
巴西报纸《圣保罗页报》(Folha de S.Paulo)上周报道称，巴西政府正在考虑对采矿业的FDI设限，包括设置国内供应最低限额以及基于“投资者情况”来筛查交易。
Mr Lima said most of China’s FDI into Brazil, much of which was channelled through tax havens such as Luxembourg, was related to commodities.
利马表示，中国对巴西的直接投资大多流向与大宗商品有关的产业，当中有很大一部分是取道卢森堡等避税天堂流入巴西的。
The biggest transaction was Chinese oil major Sinopec’s $7.1bn purchase of a 40 per cent stake in Repsol Brazil.
其中最大的一宗交易是，中国石油巨头中石化(Sinopec)斥资71亿美元收购了雷普索尔巴西公司(Repsol Brazil) 40%的股份。
Most of the Chinese investment would lead to little transfer of technology for Brazilian industry, Mr Lima said.
利马表示，中国对巴西的投资一般很少涉及向巴西产业转让技术。
