In China, Lula seeks help to build back Brazilian industry

THE trip by Brazil’s President Luiz Inácio Lula da Silva to Beijing has made clear he is counting on China to help reinvigorate the South American nation’s ailing industrial sector — particularly by picking up the slack of exiting U.S. companies.

After Lula met Friday with China’s President Xi Jinping, Brazilian finance minister Fernando Haddad told reporters the nations are planning a “leap forward” in their relationship.

“President Lula wants a policy of reindustrialization. This visit starts a new challenge for Brazil: bringing direct investments from China,” Haddad said. He added that Brazil wants strong bonds with the U.S. as well, but noted with regret that recently “some American companies made the decision to leave Brazil.”

Industrial policy is near and dear to Lula, a former steelworker who became a union leader. Decades later, he launched his bid for a third presidential term on the gritty outskirts of Sao Paulo