Pragmatism to prevail in Brazil's ties with China

Some analysts see Brazil's ties with China is the main reason it has remained in the BRICS.
NAMPA
Allison ­Jackson



Brazil's foreign minister has made clear that there is no love lost for Beijing on his part, but when he sat down with his Chinese opposite for the first time yesterday analysts expected pragmatism to prevail.

Ernesto Araujo, a critic of China and fervent admirer of US president Donald Trump - views shared by his right-wing boss, president Jair Bolsonaro - was likely to adopt a more conciliatory tone when he met Wang Yi in the Brazilian capital.

Both sides are looking to strengthen a relationship that only months ago many had feared could rupture under newly-elected Bol­sonaro, espe­cially in the face of growing US-China trade tensions.

But moderates in the deeply divided government have convinced right-wing ideologues -including Araujo - that “there's too much at stake” for Brazil to turn away from its biggest trade partner, said Oliver Stuenkel, a professor of international relations at Getulio Vargas Foundation.

China represented 27.8% of Brazil's exports in 2018.

“Brazil's economic prospects depend on good economic ties with China,” Stuenkel told AFP. “I am confident that, paradoxically, China and Brazil relations will actually deepen under Bolsonaro.”

Closer ties with China were encouraged under leftwing former president Luiz Inacio Lula da Silva, who is in jail for corruption.



Antagonism

During last year's election campaign, however, Bolsonaro accused the world's second largest economy of “buying Brazil” and ­antagonised Chinese leaders by ­visiting Taiwan, considered a renegade province by Beijing.

Since taking power in January Bolsonaro has sought to deepen relations with like-minded conservative governments in the United States and Israel as he pivots away from developing countries.

But Brazil's economic slowdown and pressure from its powerful mining and farming sectors, which depend on China to buy their iron ore and soya bean exports and are influential backers of Bolsonaro, have buffered the relationship.

“There is an ideological rhetoric, but in practice pragmatism prevails,” Rubens Barbosa, a former Brazilian ambassador to Washington, told AFP.

“You should not pay attention to what was said a few months ago on foreign policy and the environment. It has changed completely.”

Vice president Hamilton Mourao, a retired general and moderate in the Brazilian government, has worked hard to repair any damage to the country's ties with the Asian powerhouse.

He travelled to Beijing in May where he reassured president Xi Jinping that Chinese investment was welcome in Brazil, ahead of Bolsonaro's planned visit to the country later this year.



Economic interests

Mourao said this month Chinese tech company Huawei would not face restrictions in Brazil, defying US pressure to shun the firm because of its links to the Beijing government and possible security threats.

“There are tensions within the government over how to deal with China,” said Luis Fernandes of the BRICS Policy Centre in Rio de Janeiro.

But “I tend to think that economic interests will prevail.”

While Beijing could hardly have missed the anti-China rhetoric, it was unlikely to retaliate against Brazil, said Julia Coym of Control Risks consultancy in Shanghai.

“China will pay a lot more attention to Bolsonaro's actions now that he's in office than the rhetoric he employed during the campaign,” Coym said.



BRICS

Araujo and Wang's meet­ing in Brasilia comes on the eve of a wider talks in Rio with their BRICS counterparts from Russia, India and South Africa.

A summit of the leaders of the BRICS nations is planned for November in Brasilia.

While the deteriorating situation in Venezuela is expected to be discussed, deep divisions among the emerging economies over how to respond to the crisis is likely to prevent a strong declaration on the issue.

Brazil is among more than 50 countries that recognise Venezuelan opposition leader Juan Guaido as the legitimate acting president.

China and Russia still support Nicolas Maduro's government.

“This could start to be a factor that increases friction between BRICS members,” said Carlos Gustavo Poggio of Brazilian university FAAP.

Some analysts see Brazil's ties with China is the main reason it has remained in the BRICS, even as the group's relevance has been questioned in recent years.

“If they were to walk away so abruptly I think it would create an unnecessary crisis with Beijing,” said Brian Winter, editor-in-chief of Americas Quarterly.

“They want to maintain a pragmatic commercial relationship with China” which sees BRICS as a useful way to expand its influence in Latin America and Africa.

– Nampa/AFP

Kommentaar

Republikein 2024-05-10

Geen kommentaar is op hierdie artikel gelaat nie

Meld asseblief aan om kommentaar te lewer

Katima Mulilo: 13° | 33° Rundu: 13° | 33° Eenhana: 14° | 34° Oshakati: 16° | 33° Ruacana: 17° | 34° Tsumeb: 17° | 31° Otjiwarongo: 15° | 31° Omaruru: 18° | 32° Windhoek: 16° | 28° Gobabis: 16° | 30° Henties Bay: 14° | 20° Wind speed: 24km/h, Wind direction: S, Low tide: 10:44, High tide: 04:42, Low Tide: 22:59, High tide: 17:11 Swakopmund: 15° | 17° Wind speed: 31km/h, Wind direction: SW, Low tide: 10:42, High tide: 04:40, Low Tide: 22:57, High tide: 17:09 Walvis Bay: 16° | 23° Wind speed: 36km/h, Wind direction: S, Low tide: 10:42, High tide: 04:39, Low Tide: 22:57, High tide: 17:08 Rehoboth: 16° | 29° Mariental: 18° | 30° Keetmanshoop: 13° | 29° Aranos: 18° | 30° Lüderitz: 13° | 27° Ariamsvlei: 10° | 25° Oranjemund: 13° | 20° Luanda: 25° | 28° Gaborone: 15° | 31° Lubumbashi: 14° | 30° Mbabane: 16° | 25° Maseru: 11° | 25° Antananarivo: 13° | 23° Lilongwe: 16° | 28° Maputo: 18° | 29° Windhoek: 16° | 28° Cape Town: 13° | 17° Durban: 19° | 24° Johannesburg: 17° | 26° Dar es Salaam: 23° | 31° Lusaka: 17° | 30° Harare: 14° | 28° Currency: GBP to NAD 23.04 | EUR to NAD 19.85 | CNY to NAD 2.55 | USD to NAD 18.46 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.66 | ZWL to NAD 0.04 | BRL to NAD 3.58 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.05 | USD to AOA 834.06 | USD to BWP 13.6 | USD to EGP 47.35 | USD to KES 130.98 | USD to NGN 1439.8 | USD to ZAR 18.46 | USD to ZMW 26.75 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 77539.13 Up +0.47% | Namibian Stock Exchange (NSX) Overall Index 1733.43 Up +1.10% | Casablanca Stock Exchange (CSE) MASI 13478.23 Up +0.44% | Egyptian Exchange (EGX) 30 Index 26003.16 Up +0.05% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 360.25/OZ UP +0.58% | Copper US$ 4.60/lb UP +0.69% | Zinc US$ 2 927.40/T UP 0.29% | Brent Crude Oil US$ 84.45/BBP DOWN -0.0025 | Platinum US$ 989.35/OZ UP +0.41% Sport results: Weather: Katima Mulilo: 13° | 33° Rundu: 13° | 33° Eenhana: 14° | 34° Oshakati: 16° | 33° Ruacana: 17° | 34° Tsumeb: 17° | 31° Otjiwarongo: 15° | 31° Omaruru: 18° | 32° Windhoek: 16° | 28° Gobabis: 16° | 30° Henties Bay: 14° | 20° Wind speed: 24km/h, Wind direction: S, Low tide: 10:44, High tide: 04:42, Low Tide: 22:59, High tide: 17:11 Swakopmund: 15° | 17° Wind speed: 31km/h, Wind direction: SW, Low tide: 10:42, High tide: 04:40, Low Tide: 22:57, High tide: 17:09 Walvis Bay: 16° | 23° Wind speed: 36km/h, Wind direction: S, Low tide: 10:42, High tide: 04:39, Low Tide: 22:57, High tide: 17:08 Rehoboth: 16° | 29° Mariental: 18° | 30° Keetmanshoop: 13° | 29° Aranos: 18° | 30° Lüderitz: 13° | 27° Ariamsvlei: 10° | 25° Oranjemund: 13° | 20° Luanda: 25° | 28° Gaborone: 15° | 31° Lubumbashi: 14° | 30° Mbabane: 16° | 25° Maseru: 11° | 25° Antananarivo: 13° | 23° Lilongwe: 16° | 28° Maputo: 18° | 29° Windhoek: 16° | 28° Cape Town: 13° | 17° Durban: 19° | 24° Johannesburg: 17° | 26° Dar es Salaam: 23° | 31° Lusaka: 17° | 30° Harare: 14° | 28° Economic Indicators: Currency: GBP to NAD 23.04 | EUR to NAD 19.85 | CNY to NAD 2.55 | USD to NAD 18.46 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.66 | ZWL to NAD 0.04 | BRL to NAD 3.58 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.05 | USD to AOA 834.06 | USD to BWP 13.6 | USD to EGP 47.35 | USD to KES 130.98 | USD to NGN 1439.8 | USD to ZAR 18.46 | USD to ZMW 26.75 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 77539.13 Up +0.47% | Namibian Stock Exchange (NSX) Overall Index 1733.43 Up +1.10% | Casablanca Stock Exchange (CSE) MASI 13478.23 Up +0.44% | Egyptian Exchange (EGX) 30 Index 26003.16 Up +0.05% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 360.25/OZ UP +0.58% | Copper US$ 4.60/lb UP +0.69% | Zinc US$ 2 927.40/T UP 0.29% | Brent Crude Oil US$ 84.45/BBP DOWN -0.0025 | Platinum US$ 989.35/OZ UP +0.41%