Jair Bolsonaro uses WEF platform to sell a ‘new Brazil’ to Davos elite

Brazil’s new president, Jair Bolsonaro, threw out the welcome mat for big business and major investors on Tuesday, inviting major investment to boost Brazil's tourism industry. (Screenshot/WEF)
Updated 22 January 2019
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Jair Bolsonaro uses WEF platform to sell a ‘new Brazil’ to Davos elite

DAVOS, Switzerland: Brazil’s new president, Jair Bolsonaro, threw out the welcome mat for big business and major investors on Tuesday, telling a summit of CEOs at the World Economic Forum in Davos that his government would make the country one of the top 50 in which to do business.
Bolsonaro said he would work to open up Brazil’s relatively closed economy, reduce and simplify taxes, privatise assets and give his new justice minister the tools to tackle corruption and organized crime.
The newly-elected Brazilian president told the audience that he was “moved and honored” to be addressing the good and the great at Davos, calling the forum an opportunity to show the world a revamped Brazil that he was building.
“I want to introduce to all of you the new Brazil we are building,” he said. “We are committed to changing our history.”
He reassured political and business leaders in attendance that his government has the credibility and the tools required to reform his country.
Big investment to turn Brazil into a global tourist destination was the main thrust of Bolsonaro’s speech. But given the importance placed on climate change and protecting the natural world, he was keen to point out that he would strive to preserve the environment while developing the economy — saying policies on the two “should go hand-in-hand.”
Bolsonaro surfed a populist wave last year to ride to power, vowing an end to rampant corruption and a restoration of law and order in Brazil.
But staging his first foreign trip as president, Bolsonaro has left behind a scandal about suspicious payments involving his politician son Flavio Bolsonaro, who denies any wrongdoing.
Focusing instead on a pro-business message at the WEF, Bolsonaro told his well-heeled audience that he was determined to open up Brazil’s economy.



South Korea: Japan dispute to hit global technology companies

Updated 17 July 2019
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South Korea: Japan dispute to hit global technology companies

  • Japan’s steps are inconsistent with World Trade Organization principles, South Korean government source says

SEOUL: Export curbs Japan imposed in its dispute with South Korea will adversely affect global technology companies and hurt the operations of tech giant Samsung in the Texas state capital of Austin, a South Korean government source said on Wednesday.
Japan’s steps are inconsistent with World Trade Organization principles, but South Korea wants to resolve the dispute through dialogue, the source told reporters in Seoul, speaking on the condition of anonymity in order to discuss negotiations.
If Japan goes so far as to drop South Korea from its “white list” of countries with minimum trade restrictions, it would cause a “tremendous amount of problems,” the source added.