Brazil’s central bank president, Gabriel Galipolo, said on Monday that China is exporting “disinflation or even deflation” to Brazil through a surge in low-cost imports, easing inflation.
Speaking at an economics forum in Sao Paulo, Galipolo said Brazilian imports from China have grown while their prices have fallen, easing inflation in the short term but reflecting deeper imbalances in global trade.
“It is, in a sense, offsetting an impact that would otherwise be even greater, both for the…