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BRAZIL-ECONOMY/CHINA
RTXSMH0
September 25, 2010
A worker places a new pair of shoes on the conveyor belt during a shoemaking process at a factory in...
NOVO HAMBURGO, Brazil
To match Special Report BRAZIL-ECONOMY/CHINA
A worker places a new pair of shoes on the conveyor belt during a shoemaking process at a factory in Novo Hamburgo, in the state of Rio Grande do Sul August 5, 2010. Even among emerging market powerhouses, Brazil and China stand out. And as they've grown, the two countries have become more intertwined than ever. Shoes are so basic to the city of Novo Hamburgo that even a waitress, on hearing mention of China, immediately brings up the footwear industry. About 70 percent of the city budget derives, directly or indirectly, from shoes, the mayor says. The town bled jobs in recent years, as Chinese companies lured away Brazilian workers to jump-start the sector abroad and Brazil's shoe exports fell almost in half by weight from 2004 to 2009, or 22 percent by dollar value. Picture taken August 5, 2010. To match Special Report BRAZIL-ECONOMY/CHINA REUTERS/Nacho Doce (BRAZIL - Tags: BUSINESS EMPLOYMENT)
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