August 10, 2024

Lula is betting on China

President Xi Jinping of China is hosting Brazilian President Luiz Inácio Lula da Silva in Beijing, expanding economic ties between the two countries. While the primary goal is to strengthen economic ties between Brazil and China, Chinese officials hint that the rewards for having a strong relationship with China will far outweigh any problems. China has been Brazil’s largest trading partner since 2009 and the Chinese government prefers to conduct business with South American countries rather than the United States, as a recent editorial in China Daily indicated.

Building a rapport with agribusiness leaders and improving the country’s economic outlook drive Brazilian President Lula’s focus on China. China’s Belt and Road Initiative could help Lula create a narrative about existing agreements, and he can expect high-profile Chinese investment promises that will be used to bolster Brazil’s image. Potential investments from China include reviving a car factory and improving cooperation in areas such as trade facilitation and 5G and 6G.

 Brazil’s activism towards the war in Ukraine could potentially harm its reputation in Europe and the US as it is feared that by seeking to help establish peace, Brazil may inadvertently legitimize Russia’s narrative. However, Brazil’s efforts abroad seem to be benefiting it in other areas, as Lula is eagerly awaited at various international events. After stopping in Beijing, Lula plans to visit the United Arab Emirates to announce further investments before travelling to Portugal, Spain and the G7 summit. Brazilians remain indifferent to the geopolitical controversies while global reception to the country remains positive.

This is a summary of the article “Courting Lula, China Seeks to Show It Has More to Offer than the U.S. by Oliver Stuenkel

Translation/ Traducción