- Chinese President Xi Jinping also apparently persuaded Lula to support the use of China’s yuan to replace the dollar as the global standard currency…. China also might want Brazil to grant permission to purchase additional farmland. China already owns more than 200,000 hectares of Brazilian land.
- The Brazilian leader’s fifth visit to China on April 14 was a stark contrast to his cool visit to the US this past February.
- Brazil’s warming ties to China also have an economic purpose. China is Brazil’s largest trading partner, and Brazil exports a great deal of agricultural produce to China. Brazil appears hopeful for increased Chinese investment to modernize its industrial plants as well as technology transfer for its semiconductor production.
- Above all, Lula has praised China’s rhetoric favoring the establishment of a new, non-US led international order based on multipolarity. China has acknowledged Lula’s support by emphasizing Brazil’s prominent role in the multinational “BRICS” alliance consisting of Brazil. Russia, India, China, and South Africa.
- The Chinese triumph, however, may prove short-lived. Bolsonaro — who condemned China as a “predator” and infuriated the CCP by visiting Taiwan in February 2018 when he was campaigning for the presidency — remains popular and may run against Lula in Brazil’s next presidential election.
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