Latin America’s China Strategy Needs an Overhaul

Bloomberg | Especially in Brazil, savvy local leaders have an opportunity to turn Beijing’s Belt and Road Initiative to their advantage.

[…]The current arrangement has brought Brazil profits but little trade stability, much less parity at the negotiating table. Encouragingly, all three of those benefits are within reach, despite the lopsided balance of power and assets between the two countries.

To up its China game, Brazil must explore niches, tap technology and diversify its exports. For at least the last decade, three commodities — soybeans, iron ore and crude oil — have accounted for 75% to 80% of what China buys from Brazil, Brazilian economist and diplomat Tatiana Rosito wrote in a recent study for the Brazil-China Business Council (CEBC).

[…]The trope counts double for Brazil, which despite its intensifying relationship with China, “does not have a single document with a clear foreign policy strategy to guide this strategic planning exercise with China,” the CEBC’s Rosito concluded.