bellami, brazilian stock index -BBVA -0.3% The tech industry’s biggest shareholder bellami said the world has “never seen anything like it”.
Brazilian stocks rallied on Friday after the World Economic Forum (WEF) warned of a “massive and rapidly growing” threat from China, the world No. 2 economy.
In its annual ranking of world economic powers, the WEF said China was the world leader in the use of digital technologies, with the United States and the European Union second.
“We believe that the future is one in which we have seen a massive and rapidly increasing use of these technologies in the global economy,” Bellami, Brazil’s largest stock exchange, said in a statement.
“The challenge is how to prevent this from happening and to develop appropriate responses.”
The WEF’s chief economist, Martin Piot, warned in January that China was threatening the future of global trade and economic growth, and would likely become the “world’s biggest economy” by 2030.
On Thursday, China said it would create 3 million jobs, including 3 million in the country.