Brazil warns over dangers of complacency in trade

Although China has replaced the US as Brazil's largest trading partner, there is no room for complacency, said Rodrigo Tavares Maciel, executive secretary of the China-Brazil Business Council.

Speaking at the Annual Meeting of the New Champions 2009, commonly known as the Summer Davos, Marciel said: "I think the problem is still somehow the same issue we've faced since the very beginning - a lack of understanding between the two countries and their companies."

China and Brazil have been strategic partners as far back as 1993, but high expectations for the bilateral relationship between the two have not always been realized.