China and Brazil cooperate economically on quite some mutual beneficial projects such as the already in 1988 preparations for a joint project to construct the China-Brazil Earth Resources Satellite program, which in 1999 and 2002 successfully constructed two satellites providing key information on (new sources of) natural resources. Secondly, an International Satellite Communications company (INSCOM) was set up as a joint venture.[10]
Other projects in the range of the Earth Resources Satellite are the construction of Porto do Açu near Rio de Janeiro, Vitória and Campos dos Goytacazes, which can handle Chinamax containerships to import and export raw materials and manufactures vice versa.[11] Other major important infrastructure investment are the construction of a continental pipeline, roads and high speed trains.[12]
Chinese investment in Brazil takes strategic approaches and does so in strategic areas to consolidate China’s role in the Brazilian economy, this creates economic leverage, expands the zone of influence of Chinese companies in Brazil and increases interdependence. Chinese investments in Brazil are concentrated mainly in the energy, mining, steel and oil industries.[13]
In 2010, despite the generally friendly and close relationship, Brazil was one of the few emerging economies to publicly criticise China's policy in relation to the so-called Currency war. Brazil has called for China to allow a faster appreciation of its currency, which would help other countries to better compete against Chinese exports. Brazil also criticised US policy, saying both China and the US should seek to avoid escalating economic tension concerning trade and currency.[14][15]