China trade vs economic growth: the dilemma for Brazil’s new Trump-style president
- Jair Bolsonaro’s vows to ease ties with Beijing while also speeding up domestic development could be tough to reconcile, analysts say
- The incoming leader’s lack of international experience could also add to uncertainty
Brazil’s far-right president-elect could struggle with his twin commitments to cut Chinese investment in his country and accelerate its economic development, given that China is – and is likely to remain – Brazil’s biggest trading partner, diplomatic observers said.
Sixty-three-year-old president-elect Jair Bolsonaro campaigned on a Trump-style platform that included warning against Beijing’s growing influence and amplifying fears about Chinese investment in Brazil’s energy and infrastructure sectors.
“China isn’t buying in Brazil. China is buying Brazil. This is a big problem that we should be worried about … Are you willing to leave Brazil in the hands of the Chinese?” Bolsonaro said in the months leading up to the election.
He vowed to reshape Brazil’s foreign policy and improve ties with Washington, overturning the country’s decade-long policy.
On Monday, Chinese foreign ministry spokesman Lu Kang congratulated Bolsonaro and said China would deepen cooperation with Brazil.
Analysts said Bolsonaro’s presidency would bring a dramatic shift in China-Brazil relations, and the power politics of BRICS, the association of the five major emerging markets of Brazil, Russia, India, China and South Africa.
