BRIC is the acronym that stands for Brazil, Russia, India and China. Those four nations are seen as most significant of the emerging industrial economies.
They are also learning each other’s tricks — and fast.
China has long insisted that MNCs that want to win cash-rich contracts to build out that nation’s infrastructure come prepared to share that technology with its local contractors. Call it mandatory tech transfer.
Well, Brazil, it appears, is taking the same approach. The country, reports the Wall Street Journal, is holding back more than a billion dollars in financing until Foxconn International Holdings agrees to bring its latest LCD technology to its planned factory in Minas Gerais.
All’s fair in love and trade, I suppose.