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With manufacturing down in China - the world's economic dynamo, demand for vital commodities will drop.
China will strive for 8 per cent growth in industrial output this year.
Companies like Xiaomi Corp., Huawei Technologies Co. and ZTE Corp. stand to gain from the zero-tariff policy.
President Dilma Rousseff is trying to rein in the largest budget gap in 16 years that threatens Brazil’s investment grade.
There is particular lower confidence in the the German and French economies.
Putin will also attend the celebrations in China to mark the 70th anniversary of the end of the war.
China’s two largest locomotive equipment maker signed more than $6 billion of overseas contracts last year, up 60 % from 2013.
The Chinese renmimbi is also expected to replace the dollar at the BRICS Bank, especially for projects in Asia.
The flash manufacturing purchasing managers’ index, a key measure of factory activity in China, posted at 48.2.
In the first week of June, outflow from emerging economies reached $9.3 billion – the highest rate in seven years.
